The period in which federal agencies were established to reveal their holdings of Bitcoin (BTC) to create cryptocurrency reserves is about to end, according to guidelines set out in an executive order signed by President Donald Trump on March 6.
According to presidential documents released on March 11th – Functions of the regulations – Information must be sent to the Treasury Secretary Within the next 30 days To issue an order. This will close delivery for the period Saturday, April 5th.
The goal is to determine the exact amount of BTC and other cryptocurrencies It is in the hands of the governmentso they can get into the reservation. To this end, the Treasury Secretary has also been directed to establish two offices aimed at managing digital assets held by the government.
The idea is that the strategic reserves are initially consistent with acquired Bitcoin by crime or civil confiscation. Therefore, this order establishes a ban on the sale of seized cryptocurrencies.
On the subject, David Bailey, former Trump campaign assistant and executive director of the BTC Inc. campaign, suggested that the audit results can shed light on the light. Recent Bitcoin Price Movements.
Bailey has fallen by about 10% since the establishment of the reserve, bringing BTC prices from over USD 92,000 to USD 82,000. “Depending on what we learned, we were able to answer many of the recent unresolved questions about price action,” he said.
It highlights the fact that BTC volatility remains high. In that sense, it is important to remember that Trump unleashed the commercial war and that the sanctuary was announced at the same time. Concerns about the recession have been revived.
Experts consider BTC’s government stash knowledge That could be bullish for digital currency. But most importantly, in his opinion, to know how much you can use to make a reservation.
I don’t know how much BTC there is. uu.
Bailey joined in the voice It cried out for an auditwarning that it is currently unable to determine the status of Bitcoin in the hands of American sheriffs.
According to Buy Bitcoin Worldwide Statistics, the US government currently has 207,189 BTC worth around $20 billion. Arkham Intelligence Data reduces the number to 198,012 BTC.
However, as it was known in February this year, the US Sheriff Services cannot officially say how many cryptocurrencies it owns. It’s not either There is accurate data About cryptocurrencies in the hands of government agencies, or cryptocurrencies that own private keys that allow Bitcoin.
“You’d better have our bitcoin or rollhead,” Bailey told X when he learned of this information. Senator Cynthia Ramis, the main advocate of Bitcoin Reserve law; He reflected his claim, A little while before Trump’s investment.
As reported by Cryptonoticia, lawmakers sent letters to sheriff services, asking about the actual amount of cryptocurrency the body handles and why. There is no transparency Regarding the holding and selling of these assets.
With that letter, Ramis The start of the investigation has been officially established. This has already progressed through the Cryptocurrency Subcommittee, which was created within the Senate Banking Committee.
These Bitcoins represent opportunities to diversify US assets and create financial foundations that will benefit future generations. The decision to maintain or sell these assets will affect our country’s financial sovereignty and strategic position for decades.
Cynthia lamp.
White House cryptocurrency emperor David Sachs also called attention to the sale that was made Between Joe Biden’s government. He remembered that America. He has held about 400,000 BTC over the past decade due to confiscation.
Approximately half of this amount (195,000 btc) was sold, generating revenue of $366 million. “If the government had held 400,000 BTC, its current value would be significantly greater than its current holdings,” Sachs said.
Most US BTC holders come from what has been pointed out. Silk Road Case Forbidden This is the first time since 2013 when Barack Obama ruled. However, due to the lack of records, it is not clear exactly how many Bitcoins are being sold during that government, Trump’s first mission, and in the Biden administration.
There was isolated information showing that about 2,170 BTC had been auctioned in 2018, and in 2020 there were over 180,000 BTC (both between the Trump government). In 2023, approximately 40,000 BTC was mobilized.
Therefore, it is not easy to specify the overall Bitcoin or the selling value that will allow the Sack to estimate profits. Preliminary calculations suggest much of the BTC You can sell to Prices are lower than the market. However, if the government held at least 195,000 BTC of these sales, it is now worth $16.5 billion.
So, it is expected that the audit will be known this April 5th to clarify all these doubts. as you know Movements, sales, profits and current balance One of the BTCs wants to create a US reservation.
(tagstotranslate)bitcoin(btc)
