The US-owned Bitcoin (BTC) status is controversial following recent reports that it sold up to 85% of its portfolio. However, the new findings suggest that the government’s BTC bucket remains intact.
Development is clear, but any government-selling moves will raise concerns about possible market impacts.
Arkham makes it clear that the US government still holds $24 billion in Bitcoin
It was reported that the US government sold 85% of its Bitcoin holdings, including seized and/or forfeitured assets, just a week ago. The report has gone wildly in crypto and political circles, with Sen. Cynthia Ramis citing strategic failures.
“I’m wary of reports that the US has sold more than 80% of its Bitcoin Reserve, leading just 29,000 coins. If so, this is a complete strategic failure and bringing the US back to light with the Bitcoin race,” writes Ramis.
These reports, in which the authors cited revelations from American Marshalls, have been shut down. According to Blockchain Analytics company Arkham Intelligence, the US government still holds $2.4 billion in Bitcoin, not $3.47 billion, as it claims.
Arkham rebuts the claim that the US government holds only 28,988 BTC, and attributes the previous report to monitoring portfolio diversification.
More specifically, other US government departments, including the FBI, DOJ, DEA and US law firms, hold some of the seized Bitcoin.
This makes it clear that the US government currently owns at least 198,000 BTC, worth $23.5 billion at its current rate.
“The US government currently holds at least 198,000 BTC ($23.5 billion) across multiple addresses held by different government arms. This has not moved for four months,” Arkham said.
This makes the US government’s Bitcoin buckets much heavier than the UK government and Bhutan Bitcoin buckets, which hold $7 billion and $1.3 billion respectively.
These findings provide much needed clarity. But they also stimulate concerns about the potential market impact if the US government decides to sell Bitcoin.
Previously, in reports that the government sold 85% of Bitcoin, analysts and investors, he praised the strength seen at BTC prices despite the sale. New discoveries bring these fears back to life.
Trump’s Crypto Group provides reports – Does it show that Bitcoin Reserve Financing Plan is included?
Meanwhile, the development comes ahead of Trump’s Crypto Working Group’s report in this week’s Top Crypto News.
Trump’s Crypto Task Force released its 180-day report on July 30th, marking the six months since President Donald Trump formed the Digital Assets Task Force.
Reports can highlight factors such as Stablecoin monitoring, token classification, and enforcement reform Signature of Genius Law.
The working group is expected to bring it all together, perhaps highlighting the feasibility and funding of genius and clarity, token classification, crypto taxation and, most importantly, strategic Bitcoin reserves.
Experts predict a practical approach, not to include retail CBDCs amid privacy and trust concerns. It can also promote USD pages stubcoins with clearer regulations and focus on international cooperation.
“This explores the possibility that the US does not necessarily buy bitcoin in open markets, but rather establishes a federal crypto reserve that is potentially drawn into seized digital assets already detained in government custody,” said Monica Jasja, Chief Expansion and Innovation Officer of the Payment Association in a recent interview.
Community preference is for working groups to identify and recommend ways in which the US government builds Bitcoin stockpiles without using fresh taxpayer funds.
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