Arkham Confirms US Still Holds $24 Billion in Bitcoin

It was reported that the US government sold up to 85% of its BTC holdings , but new findings show that the BTC reserves are still intact , causing controversy.

While the move brings clarity, it also raises concerns about the potential impact on the market if the government moves to sell.

Arkham Clarifies US Government Still Holds $24 Billion in Bitcoin
More than a week ago, reports that the US government had sold 85% of its seized Bitcoin sparked outrage in the crypto and political communities.

Senator Lummis expressed concern about the US selling more than 80% of its Bitcoin reserves, calling it a strategic mistake that left the country behind in the Bitcoin race.

Arkham Intelligence refutes previous reports that the US government still holds $24 billion in Bitcoin instead of just $3.47 billion, blaming the discrepancy on poor oversight of portfolio allocation.

With this, Arkham clarifies that the US Government currently holds at least 198,000 BTC, worth $23.5 billion at current rates.

“The US government currently holds at least 198,000 BTC ($23.5 billion) in multiple addresses held by various government agencies – none of which have occurred in the past four months,” Arkham said .

This makes the US government's Bitcoin holdings much heavier than those of the UK and Bhutan governments, which hold $7 billion and $1.3 billion, respectively.