Bitcoin price sinks below $67,000 after Bessent says the US government can’t tell banks to bail out crypto
Bitcoin (BTC-USD) dropped to $67,000 per token on Thursday, falling to its lowest level since 2024 as selling pressure intensified.
The token extended losses from the prior session after Treasury Secretary Scott Bessent signaled that the US government would not step in to support the cryptocurrency market.
In a heated back-and-forth during a House Financial Services Committee on Wednesday, Bessent was asked if the US Treasury had the authority to buy bitcoin or other cryptos.
“I do not have the authority to do that, and as chair of FSOC, I do not have that authority,” Bessent stated.
Bitcoin fell to as low as $67,073 apiece early Thursday, continuing Wednesday’s slump that followed Bessent’s comments.
The decline was…
