us_crypto_audit
Recent reports suggest the US government will finalize a comprehensive audit of its Bitcoin (BTC) reserve on April 5.
On this day, the US Treasury and other federal agencies will reveal their BTC and other crypto holdings. The audit will also clarify whether XRP, Solana (SOL), and Cardano (ADA) will join the country’s national asset reserve.
More Details of the US Crypto Reserve Stockpile
As indicated in our earlier discussion, US President Donald Trump signed an executive order on March 6 to establish a strategic Bitcoin reserve. A presidential document published on March 11 instructs all federal agencies to report their crypto holdings to the Treasury Secretary within 30 days of the order.
The Treasury Secretary is also directed to establish two offices to manage government-held digital assets. According to the publication, the Secretary of the Treasury and the Secretary of Commerce shall develop strategies for acquiring additional Government BTC.
White House Crypto and AI Czar David Sacks said the initiative will capitalize on all Bitcoin held by the Treasury forfeited through criminal or civil asset forfeiture proceedings. Arkham Intelligence estimates that the US owns over 198,000 BTC, valued at about $17 billion.
The US government held approximately 400,000 BTC through civil and criminal asset forfeitures over the past decade. However, it sold about half of this amount, 195,000 BTC, generating $366 million in proceeds. As noted in our earlier post, the US government recently transferred $8.46 million in Bitcoin, possibly related to crypto consolidation strategies.
Effect of the Federal Crypto Holdings Disclosure
David Bailey, CEO of BTC Inc., commented in an X post that the audit might shed light on Bitcoin’s recent price action. Bitcoin volatility remained high, and its price continued to decline despite the announcement of a strategic reserve.
Image Source: David Bailey on X
Concerns about a trade war and recession mainly drive the price decline of the leading cryptocurrency. Since the announcement of the crypto reserve, Bitcoin has fallen approximately 10%, dropping from over $92,000 to $82,000.
As of this writing, BTC is trading at $83,826, demonstrating a 2.1% increase over the previous day. However, the price has decreased 3.3% and 2.3% within the past week and month.
The market sees the US Treasury’s revelation of Bitcoin holdings and the potential embrace of XRP, SOL, and ADA in national reserves as a major development.
Analysts said it signals official crypto endorsement, boosting institutional trust. Others anticipate potential market stabilization and global ripple effects as countries may mimic this move. Countries like Brazil are already exploring the creation of a strategic Bitcoin reserve, as we covered in our latest report.
Furthermore, broadening Bitcoin acceptance in government reserves could drive adoption, solidifying crypto’s role in global finance.