This Saturday, April 5th, could be a game-changer for Bitcoin. Why? Because the US government is finally revealing its Bitcoin holdings.
The Government’s Secret Bitcoin Stash?
President Trump’s executive order in March demanded a complete inventory of all federal agencies’ crypto assets. This includes creating a “Strategic Bitcoin Reserve” (SBR) – basically, a digital Fort Knox for government-seized Bitcoin. All agencies had to report their holdings to the Treasury Secretary within 30 days. The upcoming audit results will be made public.
What to Expect (and Speculate On)
David Bailey, a close advisor to President Trump, believes the audit could shed light on Bitcoin’s recent price swings. He expects the government’s holdings to be lower than many speculate, but he remains bullish on Bitcoin’s future regardless.
There’s a lot of speculation about how much Bitcoin the US actually holds. Senator Cynthia Lummis hinted that the previous administration might have sold off a significant chunk of confiscated Bitcoin—potentially over 200,000 BTC—before leaving office. This is a huge amount of Bitcoin that could have been worth billions if held onto.
Bo Hines, Executive Director of the US Presidential Council of Advisers for Digital Assets, added fuel to the fire. He suggested the US once held around 400,000 BTC, selling roughly half at a massive loss. He emphasized the importance of holding onto Bitcoin for long-term growth and building that “digital Fort Knox.”
The Bottom Line
The April 5th audit results could significantly impact Bitcoin’s price. The amount of Bitcoin the US government holds (and has held) is a closely guarded secret until now. Whether the numbers are higher or lower than expected, the revelation itself is likely to create market volatility. At the time of writing, one Bitcoin was trading at $84,491.
