Following the release of records from the U.S. Marshals Service that raised concerns in the cryptocurrency community, Arkham has provided data on the Bitcoin assets held by the U.S. government.
Confusing Information on Bitcoin Assets
The publication from the U.S. Marshals Service indicating that the government holds only 28,988 BTC, valued at approximately $3.44 billion, sparked numerous questions. Senator Cynthia Lummis expressed concern, stating that if true, this would be a strategic blunder.
Arkham Clarifies Asset Quantity
Blockchain analytics firm Arkham reported that the U.S. government actually holds at least 198,000 BTC worth roughly $23.5 billion. These assets are spread across multiple agencies and wallets, with no funds moving in the past four months.
Lack of Transparency in Asset Tracking
The lack of a centralized database for all U.S. government Bitcoin holders results in transparency issues. Arkham noted that over 150,000 BTC are involved in various criminal cases, yet clear data remains inaccessible.
The escalation surrounding U.S. government Bitcoin assets underscores the need for improved transparency in the registration and reporting of cryptocurrency holdings.
