U.S. Government’s Bitcoin Holdings and Future Plans
As of March 12, the U.S. government owns 195,234 Bitcoin, worth over $16 billion. This data comes from a recent Nansen report. The government’s crypto assets also include $4.6 million in Ethereum and various stablecoins like USDC.
A new bill by Rep. Nick Begich could substantially boost these holdings. The House Strategic Bitcoin Bill proposes acquiring 1 million BTC over five years. At today’s prices, this would cost nearly $110 billion.
- The bill aims to secure about 5% of Bitcoin’s total supply.
- If passed, the government’s Bitcoin holdings would exceed those attributed to Satoshi Nakamoto, the creator of Bitcoin.
This could give the government major influence over Bitcoin’s market liquidity and price stability. It might drive up Bitcoin’s value and change market dynamics.
However, this level of control raises concerns. Bitcoin is traditionally decentralized. Large-scale government acquisitions could make it a price setter, wich some see as against Bitcoin’s original principles.
