The US department of Treasury and other federal agencies hopes to reveal its holding of bitcoin (BTC) and other cryptocurrency on 5 April. The upcoming disclosure stems from the executive order of President Donald Trump on 6 March, which was called for the formation of a strategic bitcoin reserve (SBR) and a comprehensive digital asset stopil.
According to the document of a President published on March 11, all federal agencies will have to present their digital asset holdings within 30 days of the order. The Treasury Secretary has also been instructed that two offices were designed to manage digital assets organized by the government.
SBR, especially, will not sell a “digital fort nox” in a “Digital Fort Knox” for long -term price storage to not sell BTC with a mandate, until the Bitcoin will criminal or until the citizen will acquire a criminal or a citizen.
According to David Bailey, CEO of BTC Inc. and close advisor to President Trump, the upcoming audit results can provide more clarity on the recent price movements of bitcoin. On X, Bailey commented: “April 5 (this Saturday) USA will have to fulfill the entire audit of the nation’s bitcoin holdings. Based on what we learn, we can answer many open questions about recent price action.”
When asked about the public release of audit findings, Belly replied, “I think we will learn quickly.” He also estimated if the US could catch more or less BTC than expected, commenting, “I have less doubt, but this is just an estimate.” In response to the question of how the BTC amount can affect the market spirit, Belly maintained an optimistic stance: “Everything is fast for bitcoin.”
Question on bitcoin holdings
Speculation around the actual figure, the government has a fuel in the part by Senator Synthia Lummis (R-WY), who spoke at the Digital Asset Summit on 19 March. He indicated that the former administration may have sold a significant part of the seized BTC of the United States. Based on the forgitors tied to illegal activities, these holdings, thought for more than 207,000 BTC, laid the foundation for the newly created strategic bitcoin reserve.
“We are trying to find out how much bitcoin is and whether they are fully surrendered to American custody,” Lummis said. “We feel that a strategic bitcoin can be the basis of the first year installment of the reserve. We feel that the United States has forced about 200,000 bitcoin to property. We do not know how much the Biden administration was selling just before assuming the post of Trump administration.”
Although the official number remains unaffected, Bo Hines, Executive Director of the Advisor of the US Rashtrapati Parishad for digital assets, gave further information about the former deal of the government. In an interview two weeks ago, Hines suggested that the US once had about 400,000 BTCs, which was sold about half for a fraction of its current market value.
He emphasized on the missed opportunity: “If we were held on it, it is $ 17 billion today. I mean, it just goes to show you how important this property is and what we can do with it so that American people can be benefited.”
Hines also confirmed that the budget-plated expansion of US bitcoin stores is a priority. He said, “It seems to us to hold this asset for a long time for Americans and accumulate as much as possible.
At the press time, BTC traded at $ 84,491.
Image made with Dall.E, chart from traudingview.com
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