The US Bitcoin Holdings Turned Out to Be Much Less Than Expected: Only 28,988 BTC is Held - Coin Bulletin

It has been revealed that the amount of Bitcoin (BTC) held by the US is only 28,988; this is much lower than previously estimated amounts.

A Freedom of Information (FOIA) request made by crypto journalist L0la L33tz revealed that the U.S. Marshals Service held approximately 3.4 billion dollars worth of 28,988 BTC as of March. Previously, it was believed that the U.S. government held more than 198,000 BTC. This new information has raised questions regarding the government’s management of digital assets.

The Marshals Service works as the executive branch of U.S. federal courts and typically manages and auctions off digital assets seized by agencies such as the FBI and the tax office. However, data shows that the amount of Bitcoin held by the agency has significantly decreased over the years. This development came to light alongside a reward call initiated by David Bailey, the president of Bitcoin Magazine. Bailey had promised a reward of $10,000 to anyone who could provide accurate information about the current amount of crypto held by the U.S.

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Strategic Bitcoin Reserve was on the agenda during the Trump era.

Former president Donald Trump advocated for the United States to hold Bitcoin assets during his term and signed an executive order proposing that these assets be transferred to the Treasury as part of the Strategic Bitcoin Reserve. Trump’s crypto advisor David Sacks stated that the government plans to increase BTC purchases in “budget-friendly” ways.

However, the latest statements reveal that these plans have not been implemented. Senator Cynthia Lummis reacted to the situation by saying, “The U.S. may have sold more than 80% of its BTC reserves. This would be a strategic mistake.” The risk of the U.S. falling behind in the digital asset race is being voiced louder and louder.