Blockchain analytics firm Arkham Intelligence has confirmed the U.S. government retains at least 198,000 Bitcoin (BTC), valued at $23.5 billion, refuting widespread reports of an 85% sell-off. Earlier claims suggested the U.S. Marshals Service held only 28,988 BTC ($3.47 billion), prompting alarm from figures like Senator Cynthia Lummis, who called it a "total strategic blunder" if true. Arkham clarified the discrepancy arose from overlooking holdings across multiple agencies, including the FBI, DOJ, DEA, and U.S. Attorney’s Offices.
The holdings, untouched for four months, dwarf those of the UK government ($7 billion) and Bhutan ($1.3 billion). While this dispels immediate sell-off fears, it revives concerns about potential market volatility if the U.S. liquidates its stash in the future. The news precedes a July 30 report from Trump’s crypto working group, which may address plans for a federal Bitcoin reserve using seized assets instead of taxpayer funds.