Summary

David Bailey claims that possible sell-offs in the U.S. may have led to BTC prices remaining sluggish in the past.

Summary: David Bailey claims that possible sell-offs in the U.S. may have led to BTC prices remaining sluggish in the past. Circle Network reports: Key points.

Recent data disclosed by the U.S. Marshals Service indicates that the government holds only 28,988 bitcoins, far below the external prediction of 189,000. In response, Bitcoin supporter Senator Cynthia Lummis publicly stated that if this news is true, it represents a 'strategic error' for the U.S. in the digital currency arena.

Recently, news about the U.S. government potentially selling off most of its Bitcoin assets has sparked widespread attention. Changes in Bitcoin [BTC] holdings have become a hot topic of discussion.

According to a request submitted under the Freedom of Information Act (FOIA) by independent crypto journalist and X platform user L0la L33tz, the U.S. Marshals Service (USMS), responsible for managing seized crypto assets, currently holds only 28,988 BTC (approximately $3.4 billion).

‘We may now have a clearer understanding of the actual number of bitcoins owned by the U.S. government—about 85% less than expected. Although the disclosed data has sparked controversy, the market generally believes that the government may have taken action to sell off some bitcoins. Senator Lummis: Bitcoin sell-off could be a 'strategic blunder.'

Notably, data analytics firm Arkham estimated that by July 2025, the U.S. government should hold about 198,000 BTC (worth approximately $23 billion).

However, researcher Tay Vano pointed out that some BTC has not yet appeared in on-chain records. For example, 69,370 BTC confiscated from the Silk Road case has not yet been recognized as state-owned assets, suggesting that the actual figures may vary.

Additionally, industry expert David Bailey speculated that the U.S. may have directly sold some bitcoins through swap trades to avoid leaving on-chain traces. 'I believe these sales have left no record on the blockchain, that is for sure.' Meanwhile, some observers suggested that Coinbase, as the main custodian, may have been involved in such operations. Furthermore, the court's ruling to return some bitcoins to the Bitfinex exchange also contributed to the decrease in the government's total holdings. Regarding the impact on the future Strategic Bitcoin Reserve (SBR) plan, Senator Lummis expressed shock at the current situation and criticized it bluntly:

‘If true, this is undoubtedly a significant strategic blunder that will leave the U.S. trailing in the global Bitcoin race for years. According to prediction site Polymarket, as of July 2025, the likelihood of the U.S. creating a strategic Bitcoin reserve has plummeted from nearly 80% at the start of the year to 30%.#BTC再创新高।।।।। $BTC