Bilal_Hussain Ali
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US Government Set to Complete Bitcoin Audit This Saturday
Key Highlights
The U.S. government is conducting a full audit of its Bitcoin holdings, with completion expected this Saturday.This marks the first extensive assessment of Bitcoin assets held by various federal agencies.
The U.S. Department of the Treasury, along with other federal bodies, is scheduled to release a detailed report on its cryptocurrency holdings, including Bitcoin, on April 5. This move aligns with a recent directive issued by President Trump.
There is also speculation about whether digital assets such as XRP, Solana, and Cardanoâpreviously mentioned by the presidentâwill be included in the governmentâs official crypto inventory.
On March 6, President Trump signed an executive order to establish both a Strategic Bitcoin Reserve and a Digital Asset Stockpile. According to a memorandum released on March 11, all federal agencies were mandated to disclose their Bitcoin and digital asset holdings to the Treasury Secretary within a 30-day timeframe.
As part of this initiative, the Treasury Secretary has been tasked with creating two specialized offices to oversee the management of government-held digital assets. The Strategic Bitcoin Reserve will serve as a long-term storage solution for Bitcoin obtained through civil and criminal forfeitures, ensuring these assets are not liquidated. This move is being likened to a "digital Fort Knox," securing Bitcoin for future strategic use.
David Bailey, CEO of BTC Inc, believes that the results of this audit could provide insights into recent fluctuations in Bitcoinâs price. Despite the announcement of the strategic Bitcoin reserve, Bitcoin has remained volatile, experiencing a notable drop in value. Since the reserveâs formation, Bitcoinâs price has declined by approximately 10%, falling from over $92,000 to around $82,000.
Bailey noted, âDepending on the findings, this audit could answer some pressing questions about the recent market behavior.â
According to data from Arkham Intelligence, the U.S. government currently holds approximately 198,012 BTC, valued at around $16 billion.
David Sacks, the White Houseâs designated crypto policy lead, revealed that over the past decade, federal agencies had accumulated nearly 400,000 BTC through asset forfeitures. However, nearly half of these holdingsâ195,000 BTCâwere sold, yielding $366 million in revenue. Had the government retained its entire Bitcoin stash, its value today would have exceeded $17 billion.
The U.S. government is conducting a full audit of its Bitcoin holdings, with completion expected this Saturday.This marks the first extensive assessment of Bitcoin assets held by various federal agencies.
The U.S. Department of the Treasury, along with other federal bodies, is scheduled to release a detailed report on its cryptocurrency holdings, including Bitcoin, on April 5. This move aligns with a recent directive issued by President Trump.
There is also speculation about whether digital assets such as XRP, Solana, and Cardanoâpreviously mentioned by the presidentâwill be included in the governmentâs official crypto inventory.
On March 6, President Trump signed an executive order to establish both a Strategic Bitcoin Reserve and a Digital Asset Stockpile. According to a memorandum released on March 11, all federal agencies were mandated to disclose their Bitcoin and digital asset holdings to the Treasury Secretary within a 30-day timeframe.
As part of this initiative, the Treasury Secretary has been tasked with creating two specialized offices to oversee the management of government-held digital assets. The Strategic Bitcoin Reserve will serve as a long-term storage solution for Bitcoin obtained through civil and criminal forfeitures, ensuring these assets are not liquidated. This move is being likened to a "digital Fort Knox," securing Bitcoin for future strategic use.
David Bailey, CEO of BTC Inc, believes that the results of this audit could provide insights into recent fluctuations in Bitcoinâs price. Despite the announcement of the strategic Bitcoin reserve, Bitcoin has remained volatile, experiencing a notable drop in value. Since the reserveâs formation, Bitcoinâs price has declined by approximately 10%, falling from over $92,000 to around $82,000.
Bailey noted, âDepending on the findings, this audit could answer some pressing questions about the recent market behavior.â
According to data from Arkham Intelligence, the U.S. government currently holds approximately 198,012 BTC, valued at around $16 billion.
David Sacks, the White Houseâs designated crypto policy lead, revealed that over the past decade, federal agencies had accumulated nearly 400,000 BTC through asset forfeitures. However, nearly half of these holdingsâ195,000 BTCâwere sold, yielding $366 million in revenue. Had the government retained its entire Bitcoin stash, its value today would have exceeded $17 billion.
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