According to CoinMeta, Bessent represents support for Bitcoin reserves and transparency legislation. Congressman Brad Sherman pointed out: “No country that has won a war in history has possessed Bitcoin reserves.” He believes that funds should be invested in oil and rare earth reserves, rather than Bitcoin, “We might lose it within a single day.” Bessent responded, “That’s why I pushed for the passage of the transparency legislation; it gives the Treasury Department more power to investigate such evasion behaviors.”