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$ BTC $66,820 -2.01% ETH $3,321 +1.54% BNB $575 -1.62% SOL $183 -1.14% XRP $0.60 +0.15% ADA $0.404 -0.70% * English * Advertise * About News Bitcoin Ethereum Altcoins Blockchain Business Policy & Regulations AI NFTs DeFi Adoption Markets Market News Market Analysis Top 10 Cryptocurrencies Calculator Heatmap Price Indexes Magazine People Top 100 2023 Top 100 2022 Top 100 2021 Top 100 2020 Opinion Expert Take Interview Learn Explained Crypto and AI Guides How to Glossary History of Crypto Research Articles Reports Video Podcasts Ad Vince Quill 4 hours ago UNITED STATES GOVERNMENT HOLDS $12B IN BITCOIN — ARKHAM INTELLIGENCE Pro-crypto Senator Cynthia Lummis recently announced legislation establishing a strategic Bitcoin reserve for the United States. 1737 Total views 1 Total shares Listen to article 2:48 News Own this piece of crypto history Collect this article as NFT JOIN US ON SOCIAL NETWORKS * * * * * * * * The United States government still holds more than 183,000 Bitcoin BTC $66,820 , valued at roughly $12 billion, at the time of writing, making it the largest geopolitical owner of the decentralized currency. According to data from Arkham Intelligence, the US government also holds 50,000 Ether ETH $3,321 , 121 million USDT USDT $1.00 , 40,000 BNB BNB $575 and over 10 million USD Coin USDC $1.00 . The most recent transaction from US government-controlled wallets occurred on July 29 for nearly 28,000 BTC, though the identity controlling the receiving wallet is unknown at this time. US Government crypto holdings. Source: Arkham Intelligence Related: US national debt passes $35T — 5 things to know in Bitcoin this week BITCOIN AS A STRATEGIC RESERVE ASSET OF THE UNITED STATES On July 27, the final day of the Bitcoin 2024 conference in Nashville, Tennessee, Senator Cynthia Lummis announced the introduction of legislation to make Bitcoin a strategic reserve asset of the United States. The Wyoming lawmaker proposed a plan to purchase 5% of Bitcoin’s total supply and hold the digital commodity as a Treasury asset. Lummis called the proposal a 21st-century “Louisiana Purchase,” a reference to the purchase of the American Midwest from the French for $15 million in 1803. Source: Cynthia Lummis Former President Donald Trump has also hinted at creating a Bitcoin strategic reserve. During his keynote address at the Bitcoin 2024 conference, the Republican presidential candidate promised not to sell any of the US government’s Bitcoin holdings. Trump stated that he wants the Bitcoin industry to flourish in the US and doesn’t want to undermine blockchain innovation through overregulation. Independent presidential candidate Robert F. Kennedy Jr. likewise promised to sign an executive order transferring the US government’s vast Bitcoin holdings to the Treasury and purchasing 500 BTC per day until the United States owns 4 million BTC. NOT EVERYONE BELIEVES A STRATEGIC RESERVE IS IMMINENT Ari Paul, chief information officer at BlockTower Capital, believes the odds are stacked against Bitcoin becoming a strategic reserve asset of the United States. By 2028, the chances of this happening are 10:1, he said. The executive explained that an informal announcement by presidential candidates not to sell the United States’ Bitcoin holdings is not enough to establish an official strategic reserve fund. Magazine: Bitcoin $500K prediction, spot Ether ETF ‘staking issue’— Thomas Fahrer, X Hall of Flame Explore more articles like this Subscribe to the Markets Outlook newsletter Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday Subscribe By subscribing, you agree to our Terms of Services and Privacy Policy * #Bitcoin * #Blockchain * #Dollar * #Adoption * #United States * #Elections * #Donald Trump * #Regulation Add reaction Read more * Kamala Harris to consider Gary Peters as running mate: Report * ad The future of crypto: AI implementations in blockchain technology * WisdomTree CEO: Crypto ‘is going to go mainstream’ Ad Editor’s Choice * Everything Bitcoin: L2s see wave of adoption, but security needs to catch up * RFK Jr: Only Bitcoin can guarantee US dollar’s reserve currency status * Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27 * Record $39.4B Bitcoin open interest suggests imminent price breakout * BTC price dips 4.5% as US gov’t Bitcoin move raises new sell-off fears Cointelegraph YouTube Subscribe Ad Ad Advertise with us Ad Take back your safety in Web3 Web3 Antivirus does not endorse any content or product on this button. 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