The US government is sitting on a massive pile of Bitcoin – over $24 billion worth, according to recent data. But don’t expect them to go on a shopping spree anytime soon.
No More Buying (Maybe)
Treasury Secretary Scott Bessent recently stated that the government won’t be buying any more Bitcoin. The current stash, he says, is mostly from assets seized during criminal investigations, and that’s how they plan to keep it funded. He initially estimated the value at $15 to $20 billion.
However, Bessent later added a bit of wiggle room on social media. While direct purchases are off the table, the government is still open to other ways of boosting its Bitcoin holdings, like auctions or seizing more crypto in future investigations. The goal? To become the world’s biggest Bitcoin holder.
The Real Numbers
Blockchain analytics firm Arkham Intelligence paints an even clearer picture. They estimate the US government holds around 198,022 BTC, currently worth about $23.42 billion. This includes Bitcoin seized in high-profile cases like the Silk Road bust.
But it’s not just Bitcoin. The government’s crypto portfolio also includes:
- Around 59,951 ETH ($273 million)
- 347 million USDT
- Smaller amounts of other cryptocurrencies like WBTC, BNB, WETH, and BUSD
In total, the government’s digital assets are worth approximately $24.27 billion – a figure that briefly topped $25 billion when Bitcoin’s price spiked recently.
A Change of Plans?
Earlier this year, the creation of a strategic crypto reserve was signed into law, leading many to believe the US would start aggressively buying Bitcoin. President Trump’s statements about prioritizing US-based cryptocurrencies fueled this expectation. Bessent’s recent comments, therefore, represent a significant shift in strategy. While they’re not buying more, they’re also not selling, which is good news for Bitcoin’s price.