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Reality Check: US Government Holds Far Less Bitcoin Than Believed


Reality Check: US Government Holds Far Less Bitcoin Than Believed

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The US government has released the latest figures regarding its Bitcoin holdings. The buzz around Bitcoin was credible with the US government, as the administration had earlier shared how keen it was to explore Bitcoin in the present narrative. However, the latest figures have noted a drop in the estimated 200,000 BTC figure that the majority believed the government was holding for a long time. How much Bitcoin does the US government currently hold?

Also Read: US Genius Act Vote Tomorrow: Can It Push Bitcoin To $140,000?

Bitcoin Reality Check

Bitcoin BTC Crash Red
Source: Hans Lucas / AFP via Getty Images

The US Marshal Service has just revealed the amount of Bitcoin that the entity holds, taking the market by surprise in its entirety. This development was initiated by an independent journalist, L0la L33tz, who took to X to share details of the striking amount. The figures were later shared by an outlet called the Rage, stating how the US Marshal service is currently holding 28,988.35643016 BTC instead of the estimated 200,000 BTC:

“In March, we filed a FOIA request for the amount of bitcoin held by the US Marshal Service. Today, we publish the USMS answer to our FOIA request. As well as the list of bitcoin it holds, totaling 28,988.35643016 BTC.”

The amount revealed is just 15% of the entire 200,000 BTC that the world believed the US was holding on to actively.

This development has led the majority of the people to speculate on the missing figures. One user on X shared his opinion on the latest BTC figures:

“This means most of the seized BTC is already in private hands. And likely never coming back on the market.”

New Speculations Arise: Where Did The Rest Of The BTC Go?

Many outlets on X have been running in high speculative mode. Altcoin Daily, while sharing the news of the latest BTC figures, speculated on how the US must have sold the majority of its Bitcoin holdings. He later added that this event may have been a key factor in suppressing the price of Bitcoin all along.

“BREAKING: The US appears to have SOLD 85% of its #bitcoin. The same #bitcoin that was supposed to be used for the Bitcoin Strategic Reserve. No wonder the price stayed suppressed for all those years!!”

Also Read: Here’s What Could Happen to Bitcoin (BTC) if Jerome Powell Resigns

Read the article at Watcher.Guru

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Coins

$ 71.29K

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$ 0.00903

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$ 0.00...361

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Share:

In This News

Coins

$ 71.29K

-3.44%

$ 0.00903

-3.04%

$ 0.0662

-1.26%

$ 0.00...361

$ 0.0000824


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View analytics →
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