Recent data obtained through a Freedom of Information request shows that U.S. Marshals Service's Bitcoin holdings are much lower than anticipated. This has triggered extensive discussions and speculations about market movements.
U.S. Bitcoin Reserves According to FOIA
According to FOIA, the federal agency currently holds 28,988 Bitcoin, amounting to approximately $3.4 billion. This figure has proven significantly lower than predictions, which estimated around 198,000 Bitcoin valued at $23 billion.
Public and Analyst Reactions
The public response to this data was substantial. David Bailey, chairman of the Bitcoin Conference, remarked that the government likely sold about 85% of its Bitcoin reserves, calling it 'bullish news.' Senator Cynthia Lummis termed the potential sales a strategic blunder for the country, stating this may negatively impact the U.S.'s position in the Bitcoin market.
Situation Regarding Potential Sales
Despite the data provided by FOIA, analysts believe the government may have sold its Bitcoin through off-exchange swaps, which do not appear on public blockchains. This view was supported by analyst Sani, pointing to the lack of recent transactions on tracked addresses.
The situation regarding Bitcoin reserves in the U.S. remains uncertain. The obtained data will be a significant factor for further discussions about the future of cryptocurrencies in terms of regulation and market movements.
