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US Government’s Bitcoin Holdings Under Scrutiny: Only 28,988 BTC Remain

Recent reports reveal that the US government currently holds only 28,988 Bitcoin, significantly lower than the previously estimated figure of nearly 200,000 BTC.

This discovery, made public through a Freedom of Information Act (FOIA) request, has ignited concerns about a potential sell-off of government-held assets.

The value of the US government's Bitcoin holdings now stands at approximately $3.44 billion, a stark contrast to earlier assumptions of a staggering $24 billion.

Senator Cynthia Lummis has criticized the government for not managing its crypto reserves effectively, suggesting that such actions could hinder the US's competitive edge in the global crypto landscape.

The sell-off comes as institutional interest in Bitcoin rises, with major players exploring new investment opportunities in the cryptocurrency space.

Additionally, the US government’s ability to manage its Bitcoin assets has come under fire, highlighting a lack of transparency in how these assets are recorded and reported.

Experts have cautioned that without self-custody solutions, investors may be at risk if the government implements restrictive measures around Bitcoin holdings.

The ramifications of these developments extend beyond US borders, particularly as other nations, like China, aggressively pursue their own cryptocurrency agendas.

As the regulatory framework continues to evolve, both opportunities and challenges are emerging for Bitcoin enthusiasts and market participants alike.

It remains critical for investors to stay informed as the intersection of policy, innovation, and market dynamics continues to shape the future of Bitcoin in the US.