Arkham Intelligence: “US Bitcoin Holdings Still Worth $24 Billion… No Sales”

The status of Bitcoin (BTC) held by the United States remains controversial following a report that it sold up to 85% of its portfolio. However, a new discovery suggests that the government's BTC holdings remain intact.

This development provides clarity but raises concerns about the potential market impact if the government decides to sell.

Arkham: US Government Holds $24 Billion in Bitcoin

A week ago, there was a report that the US government had sold 85% of its Bitcoin holdings. This includes seized and/or forfeited assets. This report shocked the cryptocurrency and political circles, with Senator Cynthia Lummis describing it as a strategic mistake.

"I was surprised by the report that the US had sold over 80% of its Bitcoin holdings. If true, this would be a complete strategic mistake that sets the US back years in the Bitcoin competition." – Senator Lummis

This report, citing a US Marshal Service disclosure, has been blocked. According to blockchain analysis company Arkham Intelligence, the US government still holds Bitcoin worth $24 billion, not $347 million.

Arkham refutes the claim that the US government holds only 28,988 BTC, explaining that the previous report was due to an oversight in portfolio diversification.

More specifically, other US government departments such as the FBI, DOJ, DEA, and US Attorney's Office also hold some of the seized Bitcoin.

Accordingly, Arkham clearly states that the US government currently holds at least 198,000 BTC, which is worth $23.5 billion at current market rates.

"The US government currently holds at least 198,000 BTC ($23.5 billion) across multiple addresses held by various government agencies, which have not moved in 4 months." – Arkham announcement

This means the US government's Bitcoin holdings are significantly higher than those of the UK government and Bhutan, which hold $7 billion and $1.3 billion, respectively.

This discovery provides the necessary clarity. However, it raises concerns again about the potential market impact if the US government decides to sell Bitcoin.

Previously, when there was a report that the government had sold 85% of Bitcoin, analysts and investors praised how BTC price remained robust despite the sale. The new discovery brings these concerns to the forefront again.

Trump Cryptocurrency Group Report to be Released in 30 Days

Meanwhile, this development comes ahead of the release of Trump's cryptocurrency working group report, which is one of the major cryptocurrency news this week.

Trump's cryptocurrency task force is set to release its 180-day report on July 30th, which marks six months since President Donald Trump formed the digital assets task force.

The report may emphasize stablecoin supervision, token classification, and enforcement reforms. This will come after the signing of the GENIUS Act.

The working group is likely to highlight the GENIUS and CLARITY Acts, token classification, cryptocurrency taxation, and most importantly, the feasibility and funding of strategic Bitcoin reserves.

Experts predict a pragmatic approach that does not include retail CBDC due to privacy and trust issues. It may also promote dollar-pegged stablecoins with clear regulations and focus on international cooperation.

"This is not necessarily about the US buying Bitcoin in the open market, but exploring the possibility of establishing a federal cryptocurrency reserve from digital assets already held by the government." – Monica Jasuja, Chief Expansion and Innovation Officer at Asia Emerging Payments Association, in a recent interview

The community prefers that the working group identify and recommend ways for the US government to build Bitcoin reserves without using new taxpayer funds.