The post US to audit crypto holdings after Trump establishes strategic Bitcoin Reserve appeared on BitcoinEthereumNews.com.

Before creating a Bitcoin reserve, the US government will have its crypto holdings audited to see how much it holds. This Thursday, President Trump directed for the establishment of a Bitcoin reserve and digital asset stockpile for the other currencies with crypto seized during legal proceedings. David Sacks believes the government has about 200000 BTC from its seizures White House Czar David Sacks insisted that a crypto audit is necessary given how they’ve never done one. According to Sacks, the government has captured over 400,000 Bitcoins in criminal and civil proceedings over the last ten years. He believes the government is still in control of about half of that. However, he says they cannot be certain of the total crypto holdings since they’ve never done a proper audit. According to Arkham Intelligence, the United States owns roughly $17.5 billion in Bitcoin and about $400 million worth of other digital assets in known digital wallets. Meanwhile, Trump’s executive order mandates that the Treasury and Commerce Departments find “budget-neutral strategies” to acquire Bitcoin for the reserve, limiting them to forfeited assets for now. The US government will also have seized crypto build its separate digital asset stockpile to avoid incurring extra costs in acquisitions. Sacks added, “With the reserve, the goal is long-term preservation. With the stockpile, the goal is responsible stewardship.”  Nevertheless, he has compared the BTC reserve and the separate digital asset stockpile to “a digital Fort Knox for cryptocurrency,” likening it to the Kentucky military base that holds part of the country’s gold reserves. However, some crypto analysts and enthusiasts expected Trump to take bolder steps in asset acquisition and are slightly disappointed that the reserve holdings are limited to only seized assets. For instance, Charles Edwards of the Capriole Fund, a Bitcoin and digital asset hedge fund, stated…

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Filed under: News - @ March 8, 2025 12:21 am