✴️💥💸🇺🇸$ETH
David Sachs, who was recently appointed as a special advisor to the President of the United States on artificial intelligence and cryptocurrencies, announced an audit of the U.S. government's crypto assets. The aim of this audit is to accurately determine what digital assets are under the state's control.
💸 This audit could shed light on the extent of U.S. Bitcoin reserves and plans for their further use. In recent years, the U.S. government has accumulated a significant amount of Bitcoins and other cryptocurrencies, primarily through seizures in criminal investigations, such as the Silk Road case. It is estimated that the government still holds over 198,000 BTC, worth billions of dollars, as well as other assets like Ethereum and stablecoins. However, official data has been lacking.
Sachs, a former top executive at PayPal and a well-known Bitcoin advocate, emphasized the strategic importance of these reserves. He believes that a clear understanding of their volume could support the idea of creating a national Bitcoin reserve – a plan promoted by President Trump to make the U.S. the world's 'crypto capital.' The results of the audit, which are set to be presented at the crypto summit in the White House on March 7, 2025, could influence the decision to hold these assets, sell them, or integrate them into a broader financial strategy.
This initiative is a key moment at the intersection of government and cryptocurrency.
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