Main Takeaways
- Federal agencies will share details of their crypto portfolio with the Treasury Secretary tomorrow.
- At present the US government holds 198,012 Bitcoin valued at about $16 billion.
Federal Agencies must complete by Monday to report their Bitcoin and crypto holdings to Treasury Secretary Scott Bessent, a White House official who spoke with journalist Eleanor Terrett today and confirmed it.
The report is part of President Trump’s March 6 order to create a Strategic Bitcoin Reserve and a collection of digital assets. The order, explained in a March 11 document, requires all government agencies to tell the Treasury Secretary about their Bitcoin and digital asset holdings within 30 days.
It remains confusing whether the results will be shared with the public since the order does not need to release the results. The Treasury Secretary will manage two new offices managing government-held digital assets.
The Strategic Bitcoin Reserve, like a ‘digital Fort Knox,’ will store Bitcoin taken from criminal or civil cases and keep it for a long time without selling it.
The digital asset stockpile, like the Bitcoin Reserve, will only get assets taken from criminal or civil cases. However, the Treasury can sell these assets to manage them, which makes it different from the Bitcoin reserve.
Trump earlier stated that Ethereum, XRP, Cardano and Solana as part of his recommended crypto stockpile.
But both the White House crypto leader David Sacks and Trump’s main crypto adviser Bo Hines explained that the mentions show the president acknowledging these coins as top cryptocurrencies based on their market value.
According to the data tracked by Arkham Intelligence, the US government presently holds 198,012, one wallet holding more than $15 billion in Bitcoin.
The altcoins held are worth around $380 million. Along with Bitcoin, the government also holds ETH, BNB, WBTC and TRX, along with others.
Sacks said that the government used to have about 400,000 Bitcoin taken from legal cases over the last 10 years, but they sold 195,000 BTC of them and created $366 million.
Bitcoin’s price has dropped around 17% since the reserve’s formation, dropping from over $94,000 to $77,800, because of worries about a trade war and a possible recession, according to CoinGecko.
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