US Quietly Building Bitcoin Reserve, Estimates Vary
The Bitcoin community is abuzz with speculation about the United States' cryptocurrency purchasing plans. Recent reports suggest the US holds a substantial amount of Bitcoin, with varying estimates due to seized assets belonging to third parties.
Reliable analysis platform Arkham Intelligence attributes around 198,000 BTC to the US, currently worth approximately $25 billion. However, differences in reported holdings exist, with CleanSpark's CEO suggesting around 140,000 BTC, valued at around $17 billion.
The US's Bitcoin acquisitions are indicated by political and institutional actions. These include the planned creation of a 'digital Fort Knox' cryptocurrency reserve using confiscated Bitcoins, Senator Cynthia Lummis's proposal to purchase 200,000 BTC annually over five years, and regulatory progress such as the SEC's approval of Bitcoin ETFs. S. Matthew Schultz, CEO of CleanSpark, met with Treasury Secretary Scott Bessent to discuss the US's Bitcoin reserve. Secretary Bessent believes the reserve is between $15 and $20 billion at a similar Bitcoin price.
The US is actively accumulating more Bitcoin, with plans to continue expanding its reserve. Despite varying estimates, the US holds a significant amount of Bitcoin, with the potential to utilize seized assets to grow its holdings. However, the US does not have an official overview of its Bitcoin holdings, leaving room for speculation within the cryptocurrency community.
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