During Congressional testimony, Secretary of the Treasury Scott Bessent was asked if he had the authority to bail out bitcoin. Specifically, he was asked if he has the authority to order banks to buy bitcoin, to which he replied in the negative. Watch:
Congressman Sherman: “Does the Treasury Department…have the authority to bail out Bitcoin?”
Bessent: “I am secretary of the Treasury, I do not have the authority to do that.”
— Bitcoin News (@BitcoinNewsCom) February 4, 2026
Bitcoin owners have suffered some deep price drops in the last few days, with prices for the cryptocurrency falling as low as $60,074.80 at one point on Thursday.
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Originally posted on Your Survival Guy.