Bitcoin Jiak luk Liao as AMDK Bigshot Sir refused to order a Bank Bail out for Cypto

[k1976]

Bitcoin sinks after Treasury Secretary Bessent says US government can't tell banks to bail out crypto​

Ines Ferré, Grace O'Donnell
Updated Thu, 5 February 2026 at 5:22 PM SGT
3 min read
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Bitcoin (BTC-USD) tumbled below $71,000 per token on Thursday after Treasury Secretary Scott Bessent suggested the US government would not bail out the cryptocurrency.

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.

 

[k1976]

 

[k1976]

Bessent's comments pushed bitcoin spiraling lower on Wednesday, extending a slump from earlier in that session. But the leading cryptocurrency was paring losses on Thursday after it approached the key $70,000 level.

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The decline was also fueled by the broader selling pressure in markets and a warning from notable investor Michael Burry that a sustained decline in bitcoin's price could "set in motion a death spiral leading to massive value destruction."

"Bitcoin has been exposed as a purely speculative asset, and is not near the debasement trade hedge that gold and other precious metals are," Burry, who rose to prominence after predicting the 2008 financial crisis, wrote in his Substack.

The move lower on Thursday only added to bitcoin's recent rout. The world's largest cryptocurrency is down 18% year-to-date.

Bitcoin dropped sharply last weekend to notch its fourth straight month of losses.

 

[Boonsiong]

If you think bitcoin is bad, u should also think about our hdb. Once expired, our hdb is $0

 

[Hypocrite-The]

So why don' look at buying opportunities..
?