In a March 7 call ahead of the first White House Crypto Summit, an old White House official said the US government was holding nearly 200,000 Bitcoin from Forfeiture proceedings for its strategic reserve.
“We believe we have nearly 200,000 left in Bitcoin, and we put those in the strategic reserve so we have a long-term approach to maximize its value,” they said.
According to the officer, the US government owns about 400,000 Bitcoin (Btc) Through various criminal and civil proceedings, including the deadly Silk Road case, but nearly 200,000 have been sold “in an ad hoc way over the past decade or so.”
The official added that the lack of a long-term strategic policy on what to do in the Bitcoin reserve is worth American taxpayers around $ 17 billion. The US Crypto holders will still be misleading.
https://www.youtube.com/watch?v=jmqj01_zka8
Related: How much bitcoin does the US hold, and where does it come from?
President Donald Trump Signed an Executive Order To create a strategic reserve of Bitcoin and Digital Asset Stockpile on March 6. The move took a promise of a campaign made in the crypto community and expanded his US manufacture agenda “the planet’s crypto capital. “
The Executive Order established that US Bitcoin Holdings should not be sold. In addition, it allows Treasury and Commerce secretaries to develop “budget-neutral” techniques for adding to that reserve. “This (the Bitcoin Reserve) uses digital assets (which) the United States government has.”
“If secretaries can learn how to accumulate more bitcoin without worth taxpayers, then they are allowed to do that,” the officer said.
According to the Executive Order, the Bitcoin Strategic Reserve and Digital Stockpile assets are separate and different in nature. While the Bitcoin strategic reserve can be added by additional purchases, the digital asset stockpile will not do this.
The US holds $ 18B in Crypto, $ 122m in Eth: Arkham
According to In Arkham Intelligence, the US government holds approximately $ 18 billion in its crypto portfolio. Although most of these ($ 17.6 billion) are in BTC, crypto holders also include $ 122 million in ether (Eth), $ 122 million in Tether’s USDT (USDT) and $ 24 million in BNB (Bnb).
Coins and tokens are likely to come from criminal and civil cases where crypto is eliminated. While its most high profile cases are different Silk Road BTC SeizureThere are other opportunities, including Bitfinex hack.
In addition to the coins and tokens already mentioned, the US government holds smaller amounts of other tokens, including DAI (Dai), Tron (Trx), Chainlink (Link) and undip (Uni).
Magazine: Crypto adventures of Trump’s crypto raises conflict of interest, insider trading questions
