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goozerin / Bitnews
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2024-07-31 03:54:46

goozerin on Nostr: Arkham Intelligence: United States Government Holds $12 Billion in Bitcoin (BTC) ...

Arkham Intelligence: United States Government Holds $12 Billion in Bitcoin (BTC) ๐Ÿ’ฐ๐Ÿ‡บ๐Ÿ‡ธ


Crypto-friendly Senator Cynthia Lummis recently announced her intention to advocate for a strategic Bitcoin reserve for the United States. The US government currently holds over 183,000 Bitcoin, worth about $12 billion, making it one of the largest Bitcoin holders ๐Ÿช™๐Ÿ’ผ.

According to Arkham Intelligence, the US government also possesses 50,000 Ether (ETH), 121 million USDT, and over 10 million USD Coin ๐Ÿช™๐Ÿ“Š.

The most recent transaction from the US governmentโ€™s wallet took place on July 29, involving nearly 28,000 BTC. The identity of the receiving wallets is currently unknown ๐Ÿ”๐Ÿ“….

Bitcoin as a Strategic Reserve for the United States
On July 27, the last day of the Bitcoin 2024 conference in Nashville, Senator Cynthia Lummis announced the introduction of legislation to make Bitcoin a strategic reserve for the United States ๐Ÿ‡บ๐Ÿ‡ธโš–๏ธ. Former President Donald Trump has also hinted at creating a strategic Bitcoin reserve. During his speech at Bitcoin 2024, the Republican presidential candidate promised not to sell the US governmentโ€™s Bitcoin holdings. Trump stated he wants the Bitcoin industry in the US to thrive and doesnโ€™t want to stifle blockchain innovation through overregulation ๐Ÿ“ˆ๐Ÿš€.

Skepticism About Strategic Reserve Plans
Ari Paul, Chief Information Officer at BlockTower Capital, believes the chances of Bitcoin becoming a strategic reserve for the United States are slim. By 2028, he says the odds are 10:1 ๐Ÿ“‰๐Ÿค”.

Paul explained that an informal announcement by presidential candidates not to sell the United States' Bitcoin holdings is not sufficient to establish an official strategic reserve fund ๐Ÿ“œโš ๏ธ.

#btc #crypto #bitcoin #invest #money #news #eth #usa
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