Over the past week, the cryptocurrency community has been rocked by controversial information regarding the amount of Bitcoin (BTC) held by the US government. Arkham Intelligence – a leading blockchain data analysis company – has officially refuted previous false reports and confirmed: The US government still holds at least 198,000 BTC, equivalent to about $24 billion.
This move not only helps clarify the situation but also raises big questions about the potential impact on the cryptocurrency market if the United States decides to sell this huge amount of BTC.
Refuting Rumors of Selling 85% BTC: Arkham Gives Exact Number
More than a week ago, reports emerged that the US government had sold up to 85% of seized BTC, sparking a backlash from the crypto community and US politicians. Senator Cynthia Lummis even called the sale of more than 80% of Bitcoin reserves a “strategic mistake,” arguing that it would leave the US behind in the global cryptocurrency race.
However, Arkham Intelligence was quick to deny this:
- The US government still owns at least 198,000 BTC, worth about $23.5 billion (at current exchange rates).
- These Bitcoins are stored in multiple addresses belonging to different government agencies, and none of these transactions have taken place in the past 4 months.
Compared to other governments, the US's BTC holdings are overwhelming: the UK holds only about $7 billion in BTC, while Bhutan owns about $1.3 billion in BTC.
Potential Impact on the Cryptocurrency Market
The US government still holding large amounts of BTC could have two opposing effects:
- Positive signal for market confidence: The fact that this amount of BTC has not been sold shows that the US is still cautious about its cryptocurrency strategy, at least in the short term.
- Risk of future sell-offs: If the US government decides to liquidate this huge amount of BTC, the selling pressure could cause Bitcoin prices to fluctuate sharply, affecting the entire global crypto market.
Conclude
Arkham Intelligence's confirmation that the US government still holds $24 billion in Bitcoin has dispelled previous rumors of a sell-off, but at the same time opened up many questions about the US's long-term strategy in the digital asset sector.
With these fluctuations, HVA Group recommends that investors need to be cautious, constantly update information and have a reasonable risk management strategy, because any major move from governments can change the market situation in a short time.
