Arkham Intelligence: United States Government Holds $12 Billion in Bitcoin (BTC) 💰🇺🇸

https://m.primal.net/JjrK.webp 
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 🪙💼.

According to Arkham Intelligence, the US government also possesses 50,000 Ether (ETH), 121 million USDT, and over 10 million USD Coin 🪙📊.

The most recent transaction from the US government’s wallet took place on July 29, involving nearly 28,000 BTC. The identity of the receiving wallets is currently unknown 🔍📅.

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 🇺🇸⚖️. 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 government’s Bitcoin holdings. Trump stated he wants the Bitcoin industry in the US to thrive and doesn’t want to stifle blockchain innovation through overregulation 📈🚀.

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 📉🤔.

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 📜⚠️.

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