The United States Department of the Treasury, along with other federal agencies, is set to reveal their cryptocurrency holdings, including Bitcoin (BTC), on April 5. This forthcoming disclosure is a result of President Donald Trump’s executive order from March 6, which mandated the establishment of both a Strategic Bitcoin Reserve (SBR) and a more expansive Digital Asset Stockpile.
According to a presidential document released on March 11, all federal agencies are required to report their digital asset holdings to the Treasury Secretary within 30 days following the order. The Treasury Secretary is also tasked with setting up two offices specifically to oversee government-held digital assets.
The SBR will specifically hold Bitcoin obtained through criminal or civil forfeiture, with a directive not to liquidate these holdings—functioning similarly to a “digital Fort Knox” for long-term asset storage.
The impending audit results could shed light on Bitcoin’s recent price fluctuations, as noted by David Bailey, CEO of BTC Inc and a close advisor to President Trump. On X, Bailey stated, “April 5th (this Saturday) the USA must complete a full audit of the nation’s Bitcoin holdings. What we uncover might clarify many of the current uncertainties surrounding the recent price actions.”
When questioned about the public availability of the audit results, Bailey replied, “I believe we’ll find out quickly.” He also speculated on the potential discrepancies in the amount of BTC held by the US, saying, “I suspect less, but that’s just a hunch.” Regarding the impact of the US government’s Bitcoin holdings on market sentiment, he maintained an upbeat view: “Everything is favorable for Bitcoin.”
Concerns About US Bitcoin Holdings
Speculation regarding the government’s actual Bitcoin holdings has been partially fueled by Senator Cynthia Lummis (R-WY), who spoke at the Digital Asset Summit on March 19. She suggested that the previous administration may have sold off a considerable amount of the US confiscated BTC. These assets, believed to exceed 207,000 BTC from forfeitures linked to illegal activities, could potentially serve as the foundation for the newly established Strategic Bitcoin Reserve.
“We’re working to determine how much Bitcoin exists and whether they are entirely under US jurisdiction,” Lummis commented. “We believe this could underpin the initial installment of a strategic Bitcoin reserve. We estimate that the United States has approximately 200,000 Bitcoin in asset forfeiture. What remains uncertain is the extent to which the Biden administration sold these assets before the Trump administration took office.”
While official figures have yet to be confirmed, Bo Hines, Executive Director of the US Presidential Council of Advisers for Digital Assets, provided additional context regarding the government’s previous transactions. In an interview conducted two weeks ago, Hines suggested that the US once held around 400,000 BTC, selling roughly half of it at significantly lower valuations than today’s market.
He expressed regret over the lost opportunity: “Had we retained that, its worth would have reached $17 billion by now. It underscores the importance of this asset and the benefits it can bring to the American populace.”
Hines also affirmed that a budget-neutral enhancement of US Bitcoin reserves is a key priority. “We believe it is in the best interest of Americans to hold onto this asset for the long term and accumulate as much as possible. … We’re considering building a digital Fort Knox for the United States,” he mentioned, noting that an internal task force is already exploring avenues to achieve this without imposing financial burdens on taxpayers.
As of press time, Bitcoin was valued at $84,491.
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