PANews reported on April 1st that according to Cryptobriefing, the US Treasury and other federal agencies are expected to disclose their Bitcoin and other crypto asset holdings on April 5th to comply with a recent presidential directive. It will soon be clarified whether digital assets mentioned by the president, such as XRP, SOL, and ADA, will be included in the national digital asset reserves. David Bailey, CEO of BTC Inc, stated that the audit results might reveal the reasons behind Bitcoin's recent price trends.
On March 6th, the president issued an executive order to establish strategic Bitcoin and digital asset reserves. According to a presidential document published on March 11th, all federal agencies must report their Bitcoin and other digital asset holdings to the Treasury Secretary within 30 days of the order's issuance. The Treasury Secretary was also instructed to establish two offices to manage government-held digital assets. The strategic Bitcoin reserve will store Bitcoin obtained through criminal or civil forfeiture and will not sell the Bitcoin.
According to data tracked by Arkham Intelligence, the US government currently holds approximately 198,012 Bitcoins, valued at around $16 billion. David Sacks, the White House's crypto affairs officer, stated that the US government has held about 400,000 Bitcoins over the past decade through civil and criminal asset forfeitures. However, about half, or 195,000 Bitcoins, have been sold, generating $366 million in revenue. If the government had retained all 400,000 Bitcoins, their value would now exceed $17 billion.
