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US Bitcoin Audit Delay Sparks Debate: A Bullish Indicator, Says Strike CEO

Jack Mallers, the founder and CEO of Strike, has raised eyebrows regarding the US government's reluctance to disclose its Bitcoin holdings.

He argues that this secrecy indicates the US position is "too small to lead" in the digital-asset economy.

Mallers speculated that the government's failure to audit and reveal its Bitcoin balance is due to embarrassment over its current holdings.

The Strategic Bitcoin Reserve (SBR), established in March, was intended to bolster the US's leadership in digital assets, yet details on Bitcoin reserves remain scant.

Despite expectations set by a recent digital-assets strategy report, hard figures were notably absent.

The release of a Freedom of Information Act response revealed that the US Marshals Service currently holds only 28,988 BTC, significantly less than previously believed.

This revelation has led to speculation that earlier administrations may have liquidated much of their Bitcoin assets.

As Bitcoin trades above $114,000, with an already constrained supply, any acceleration in US Treasury SBR purchases could further tighten availability.

Mallers believes that despite the political embarrassment surrounding the audit delay, it may ultimately be bullish for Bitcoin prices.

However, the future of these potential purchases depends on Congressional support, with a bill suggesting the acquisition of up to one million BTC still awaiting attention.