The US government plans to disclose its cryptocurrency holdings on April 5, following an executive order from President Donald Trump on March 6. Federal agencies, including the Department of the Treasury, received a 30-day deadline to report their digital asset reserves.
Consequently, this move aims to clarify the scope of government-owned Bitcoin and other crypto assets in the nation’s reserves. David Bailey, CEO of Bitcoin Magazine, highlighted in an X post that this move would clarify the recent price movements in the Bitcoin market.
Bitcoin Dominates Holdings Amid Price Shifts
Current estimates peg the government’s Bitcoin stash at 198,012 coins, valued at roughly $16 billion. Besides this, the U.S. once held around 400,000 Bitcoins but sold nearly half of them, generating $366 million, according to David Sacks, the White House crypto policy lead.
Meanwhile, the upcoming report will reveal whether altcoins like XRP, Solana, and Cardano join Bitcoin in the national reserve. Trump’s order mentioned these digital assets, sparking debate among crypto enthusiasts. Significantly, the audit will determine if agencies hold these altcoins or plan to liquidate them. Investors eagerly await the report for clues about the government’s long-term crypto strategy.
Agencies Prepare for Transparency Push
As mandated by the executive order, the Treasury Secretary now oversees new offices tasked with managing these assets. Moreover, agencies are working swiftly to compile their reports within a tight timeline.
This crypto reserves disclosure marks a key step in defining the US stance on digital currencies. It would really be a pivotal moment for financial markets, regulatory frameworks, and the broader cryptocurrency ecosystem.
