April 5 Could Be A Game-Changer For Bitcoin: What To Watch
The post April 5 Could Be A Game-Changer For Bitcoin: What To Watch appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The US Department of the Treasury and other federal agencies are expected to disclose their holdings of Bitcoin (BTC) and other cryptocurrencies on April 5. The upcoming reveal stems from President Donald Trump’s executive order on March 6, which called for the formation of both a Strategic Bitcoin Reserve (SBR) and a broader Digital Asset Stockpile. According to a presidential document published on March 11, all federal agencies must submit their digital asset holdings to the Treasury Secretary within 30 days of the order. The Treasury Secretary has also been instructed to establish two offices designed to manage government-held digital assets. The SBR in particular, will hold Bitcoin acquired through criminal or civil forfeiture with a mandate not to sell the BTC—akin to a “digital Fort Knox” for long-term value storage. The upcoming audit results could offer greater clarity on Bitcoin’s recent price movements, according to David Bailey, CEO of BTC Inc and a close advisor to President Trump. On X, Bailey commented: “April 5th (this Saturday) the USA must complete a full audit of the nation’s Bitcoin holdings. Depending on what we learn, might answer many of the open questions about the recent price action.” When asked about the public release of the audit findings, Bailey responded, “I imagine we’ll learn quickly.” He also speculated on whether the US might hold more or fewer BTC than expected, remarking, “I suspect less but it’s just a guess.” In response to a question on how the amount of US government-held BTC could influence market sentiment, Bailey maintained an optimistic stance: “Everything is bullish for Bitcoin.” Questions Over US Bitcoin Holdings Speculation around the actual figure the government holds has been fueled in part by Senator Cynthia Lummis (R-WY),…
Filed under: News - @ April 1, 2025 11:26 pm