The largest US Bitcoin reserve is only 90,000 BTC? Analysis: 108,000 BTC to be returned to Bitfinex victims

By: blockbeats|2025/03/10 18:15:04
0
Share
copy
Original Article Title: "US Bitcoin Reserve Only 90,000 Coins? Analysis: 108,000 BTC To Be Returned to Bitfinex Victims"
Original Article Author: Ting, BlockTempo of ChainNews

United States President Trump this morning (7th) officially signed an executive order to establish a Bitcoin Strategic Reserve and Digital Asset Reserve, with sources coming from Bitcoin confiscated by the federal government through criminal or civil proceedings, causing widespread market attention.

According to Arkham statistics, the United States currently holds 198,109 BTC, valued at approximately $17.6 billion.

The largest US Bitcoin reserve is only 90,000 BTC? Analysis: 108,000 BTC to be returned to Bitfinex victims

US Reserve Has Only 90,000 Bitcoins, Not 200,000

However, regarding the exact amount of Bitcoin reserves, investment management giant Galaxy Digital's Research Director, Alex Thorn, tweeted that the United States currently has a maximum of only 86,000 BTC available for asset reserves, with the remaining approximately 112,000 BTC to be returned to the hacked exchange Bitfinex:

We believe that the maximum amount of Bitcoin the US government can redeploy as reserves is 88,000 BTC (corrected to 86,000 by myself), accounting for only 43% of its total holdings. This is because out of the approximately 198,000 BTC currently held by the US government, 112,000 BTC will be returned to Bitfinex.

Alex Thorn's argument is roughly correct, but the numbers have a slight discrepancy. Currently, the US government has only recovered 108,068 BTC from the Bitfinex hacker case, which differs slightly from the mentioned 112,000. In addition, the exact number of Bitcoins held by the US government is 198,109, deducting the 108,068 BTC to be returned to Bitfinex, leaving a maximum of 90,041 BTC that could be allocated to reserves.

According to the executive order signed by Trump, agency heads are not allowed to sell or dispose of government digital assets, but there are exceptions, such as when the Attorney General or other relevant agency heads determine that assets or funds should be returned to crime victims or used for law enforcement actions.

As for when these 108,000 BTC will be returned to Bitfinex, the US government did not mention in its January statement, but the US government believes that this batch of seized Bitcoin should be returned to Bitfinex as physical compensation.

Coinbase CEO: Expect G20 Countries to Follow Suit

On the other hand, following Trump's signing of the Bitcoin Strategic Asset Reserve executive order, Coinbase CEO Brian Armstrong promptly tweeted that he expects the G20 countries (the Group of Twenty major economies) to all follow the U.S.'s "Bitcoin Asset Reserve" plan:

The execution capability of the Trump administration is astonishing; this is a historic moment for Bitcoin and cryptocurrency.

I expect many G20 countries to take note of the (Bitcoin Strategic Reserve) and eventually follow the U.S.'s lead.

Original Article Link

You may also like

Uniswap is trapped in an innovation dilemma

The various iterations of Uniswap are one of the sources of vitality in the DeFi market, but since 2023, Uniswap has not proposed any substantial innovations, instead adhering to traditional business explorations in application chains, Launchpads, etc., leading to a slump in token prices and market ...

What is the key to competition in crypto banking?

Digital banks, crypto cards, wallets, super apps, and DeFi protocols are all converging towards the same goal: to become the primary gateway for your savings, spending, earning, and transferring in the new era.

The flow of stablecoins and the spillover effects in the foreign exchange market

Research has found that an exogenous increase in net inflows of stablecoins significantly widens the price deviation between stablecoins and traditional foreign exchange, leads to depreciation of the local currency, and worsens the financing conditions for synthetic dollars (i.e., increases the doll...

After two years, Hong Kong's first batch of stablecoin licenses finally issued: HSBC, Standard Chartered make the cut

The regulated entity is set to launch a stablecoin in the first half of this year.

The person who helped TAO rise by 90% has now single-handedly crashed the price again today

As long as people are around, the story continues. But once they're gone, you may not even find a worthy opponent to play against.

3-Minute Guide to Participating in the SpaceX IPO on Bitget

Bitget IPO Prime brings a rare opportunity for global users to participate in world-class unicorn IPOs, allowing ordinary users to equally access the potential economic benefits of top-tier IPOs.

Popular coins

Latest Crypto News

Read more