Recent data from the U.S. Marshals Service (USMS) has stirred the crypto community, revealing that the government holds only 28,988 BTC. This fact is significantly below the expected reserves.
BTC Holdings: New Data
On July 16, independent journalist L0la L33tz revealed that the U.S. Marshals Service holds about 28,988 BTC, worth approximately $3.44 billion. This figure represents a nearly 90% drop from the previously expected stock of 200,000 BTC. The data was disclosed through a Freedom of Information Act (FOIA) request, changing perceptions of the U.S. Government's BTC reserves.
Government BTC Sales: Speculations and Opinions
Some experts are questioning whether the U.S. government has secretly sold off large amounts of BTC in recent months. Bitcoin Magazine CEO David Bailey noted, "Chasing on-chain transactions might be meaningless if the deals were conducted off-chain." Analyst Sani also speculated that major exchanges may be assisting the government in conducting off-chain swaps.
Global Implications of Reduced Holdings
Some experts believe that if the government has really reduced its BTC holdings, this could be healthy for the market by removing one of the largest potential sellers. This may also open opportunities for other nations, like El Salvador, to strengthen their positions in the 'digital gold' race.
The FOIA disclosure revealed not just the government’s BTC holdings but also the complexity of maneuvering in the crypto world. With the expansion of ETFs and the entry of pension funds into the market, Bitcoin's price volatility will increasingly reflect global political and financial games.
