US Government to Disclose Bitcoin Holdings on April 5, Bitcoin Price Drops 10%
1min read The US Department of the Treasury and other federal agencies are set to reveal their holdings of Bitcoin and other cryptocurrencies on April 5, following a directive from President Trump. This disclosure is part of a broader effort to manage and understand the government's digital asset portfolio.
One of the key points of interest is whether the national digital asset stockpile will include other prominent cryptocurrencies such as Ether, XRP, Solana, and Cardano. These digital assets were previously mentioned by the president, and their inclusion in the government's holdings will provide further clarity on the scope of the national digital asset strategy.
On March 6, President Trump issued an executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile. This order mandates that all federal agencies report their holdings of Bitcoin and other digital assets to the Treasury Secretary within 30 days. The Treasury Secretary is also tasked with creating two offices to manage these government-held digital assets.
The Strategic Bitcoin Reserve will serve as a long-term storage solution for Bitcoin acquired through criminal or civil forfeiture. Unlike traditional reserves, this Bitcoin will not be sold, positioning it as a "digital Fort Knox" for preserving value over the long term.
David Bailey, CEO of BTC Inc, noted that the audit results could provide insights into Bitcoin's recent price movements. Despite the establishment of the strategic reserve, Bitcoin's price has continued to decline, primarily due to concerns over trade wars and potential recessions. Since the reserve's creation, Bitcoin's price has dropped approximately 10%, from over $92,000 to $82,000.
Bailey suggested that the audit results could answer many of the open questions about the recent price action, offering a clearer picture of the market dynamics at play. The US government currently holds 198,012 BTC, valued at around $16 billion, according to data tracked by Arkham Intelligence.
