Bitcoin News Today: U.S. Marshals Service Holds 28,988 Bitcoin Worth 3.4 Billion

The U.S. Marshals Service (USMS) currently holds approximately 28,988 Bitcoin, valued at around $3.4 billion, as revealed by a Freedom of Information Act (FOIA) request. This disclosure highlights one of the largest government-controlled Bitcoin reserves globally, obtained through asset forfeitures linked to criminal investigations and seizures. The USMS has routinely confiscated crypto assets from illicit actors and auctioned them off, often at prices significantly lower than today’s values.

The FOIA request, filed by an investigative platform, uncovered that the USMS holds approximately 28,988 BTC, worth approximately $3.4 billion at the current Bitcoin price. This revelation is a stark contrast to earlier estimates, which suggested that the U.S. held nearly 200,000 BTC. The difference lies in the distinction between seized and forfeited property. Seized property, which includes crypto, is under the supervision of the USMS, while forfeited property may be controlled by other government agencies. Therefore, while the USMS holds 28,988 BTC, there could be additional Bitcoin controlled by other government entities.

This disclosure raises questions about potential future liquidations and their impact on the market. Some analysts believe that any sudden sell-off could put downward pressure on BTC prices, while others view it as a sign of Bitcoin’s legitimacy and growing integration with institutional frameworks. The government’s transparency, albeit forced through a FOIA request, highlights the importance of accountability in handling seized digital assets. With nearly $3.4 billion in Bitcoin sitting in federal hands, all eyes will be on how and when the USMS decides to act.

Senator has expressed concern over reports that the U.S. may have sold off a significant portion of its Bitcoin holdings. The senator criticized the potential strategic blunder, warning that such decisions could set the U.S. back in the global Bitcoin race. The senator's concerns echo those of others who believe that Bitcoin could play a pivotal role in addressing national debts, particularly in light of global economic trends.

The recent rally in Bitcoin prices has reignited discussions about its potential to help solve national debt problems. Many believe that Bitcoin could help alleviate this burden if the U.S. were to hold onto its Bitcoin reserves instead of liquidating them prematurely. Additionally, the GENIUS Act, which would put the country in an advantageous position over competing nations in the worldwide crypto race, has been supported in an attempt to speed up the integration of digital assets in the U.S. The potential of Bitcoin to address key economic challenges and hence adoption of cryptocurrency may offer a long-awaited competitive edge to the U.S.