Bitcoin News Today: U.S. Marshals Hold 28,988 Bitcoin, Far Below Previous Estimates

The U.S. Marshals Service (USMS) has confirmed through a Freedom of Information Act (FOIA) response that it currently holds 28,988.35643016 Bitcoin (BTC). This figure is significantly lower than previous estimates, which suggested that the U.S. government held nearly 200,000 BTC across all federal agencies. The discrepancy highlights the lack of a centralized public database tracking federal bitcoin holdings, raising concerns over the transparency and management of government bitcoin reserves.

The FOIA request, filed by an independent journalist, revealed that the USMS, which is responsible for managing seized assets from agencies like the FBI and IRS, has historically overseen the auctioning of confiscated bitcoin. The recent disclosure suggests that much of the seized bitcoin has already been sold off or transferred, leaving the USMS with a much smaller holding than previously believed.

The revelation comes at a time when there is ongoing debate about the strategic management of government bitcoin assets. Earlier this year, President Donald Trump signed an executive order requiring federal agencies to consolidate their bitcoin with the Treasury Department, establishing a Strategic Bitcoin Reserve. This move was aimed at creating a centralized approach to managing government bitcoin assets and expanding the reserve. The order also created a separate U.S. Digital Asset Stockpile for assets other than bitcoin.

Senator Cynthia Lummis responded to the news, expressing alarm at the apparent sell-off of government bitcoin reserves. She described the situation as a "total strategic blunder" that sets the United States back years in the bitcoin race. The senator's comments underscore the growing concern over the management of government bitcoin assets and the need for greater transparency and accountability.

The new data renews calls for a unified approach to managing government bitcoin assets. With public estimates far exceeding the official figure, questions remain about how much bitcoin is held across all federal agencies. The discrepancy highlights the need for a centralized public database tracking federal bitcoin holdings, which would provide greater transparency and accountability in the management of government bitcoin assets.

The revelation affects public perception of government-held Bitcoin, potentially influencing cryptocurrency markets and investment strategies. The news has yet to prompt responses from major cryptocurrency influencers. While there is no direct market movement reported, the reduced holdings may influence future public auctions and regulatory discussions, impacting how digital currencies are managed.

Historically, the USMS has auctioned confiscated Bitcoin from cases like Silk Road. Such events have provided insights into government asset handling practices. The FOIA results have revealed updated Bitcoin holdings that were previously undisclosed. Given past trends, if the U.S. Marshals hold more auctions, this could affect Bitcoin's availability and market prices. Experts anticipate potential policy shifts.