White House official confirms Bitcoin, crypto holding reports are due tomorrow
It's still unclear if the results will be public, especially since the order doesn't necessitate their public release.
Key Takeaways
- Federal agencies will report their crypto holdings to the Treasury Secretary tomorrow.
- The US government currently holds 198,012 Bitcoin worth approximately $16 billion.
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Federal agencies have a deadline of Monday to report their Bitcoin and crypto holdings to Treasury Secretary Scott Bessent, a White House official confirmed with journalist Eleanor Terrett today.
The reporting is part of President Trump’s March 6 executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile.
The executive order, detailed in a March 11 presidential document, mandates all federal agencies to disclose their Bitcoin and digital asset holdings to the Treasury Secretary within 30 days.
It is still unclear whether the results will be made public, given that the order does not require public disclosure of the findings.
The Treasury Secretary will oversee two new offices managing government-held digital assets. The Strategic Bitcoin Reserve, designed as a “digital Fort Knox,” will hold Bitcoin obtained through criminal or civil forfeiture and maintain these holdings long-term without selling.
Assets in the digital asset stockpile, similar to the Bitcoin reserve, will be acquired only through criminal or civil forfeiture. However, the Treasury’s ability to liquidate these assets for active management distinguishes it from the Bitcoin reserve.
Trump previously mentioned Ethereum, XRP, Solana, and Cardano as part of his proposed crypto stockpile.
However, both White House crypto tsar David Sacks and Trump’s top crypto adviser Bo Hines clarified that the mentions reflect the president’s recognition of these coins as leading crypto assets by market capitalization.
Based on data tracked by Arkham Intelligence, the US government currently holds 198,012 Bitcoin worth over $15 billion in one wallet.
Apart from Bitcoin, the government also owns ETH, WBTC, BNB, and TRX, among others. The altcoin holdings are valued at around $380 million.
Sacks revealed that the government previously possessed around 400,000 Bitcoin through forfeiture over the past decade, but sold 195,000 BTC for $366 million in proceeds.
Bitcoin’s price has declined around 17% since the reserve’s establishment, falling from over $94,000 to $77,800, amid trade war and recession concerns, per CoinGecko.
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