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Title: Arkham Reveals US Bitcoin Holdings at $24 Billion, Denies Massive Sell-Off
In a recent report by blockchain analytics firm Arkham Intelligence, it has been confirmed that the United States government still holds an enormous amount of Bitcoin worth approximately $24 billion. This revelation puts to rest earlier claims suggesting 85% of US Bitcoin holdings had been sold. The data shows that at least 198,000 BTC is held across multiple federal agencies, including the FBI and DOJ.
Contrary to previous reports indicating a massive sell-off, Arkham’s findings highlight decentralized asset control within US government bodies. This disparity in accounting led to earlier assumptions significantly underestimating the actual total of Bitcoin holdings.
The publication of this report has reignited concerns about potential future market volatility. The possibility of liquidating such a substantial portion of Bitcoin reserves could create significant downward pressure on its price. Furthermore, the uncertainty surrounding any government sales is expected to amplify fears and sentiment shifts among investors.
Prior to these findings, the market had initially reacted resiliently despite rumors of an 85% sell-off. Bitcoin remained stable despite this speculation, which was interpreted as a bullish signal. However, with the US government’s portfolio remaining intact, there exists a tangible risk that any large-scale liquidation could severely impact the digital currency.
The report highlights a possible shift in government strategy following the release of their 180-day policy report, scheduled for later this month. This document is anticipated to address legal and fiscal treatment options for existing Bitcoin holdings. Furthermore, it will likely explore frameworks for token classification and taxation, as well as potential proposals addressing stablecoin regulation and international cooperation.
Industry experts forecast that future government actions may revolve around formalizing control over already seized assets rather than introducing new taxpayer funding initiatives. This report is set to provide crucial insights into the US government’s stance on its cryptocurrency reserves, ultimately shaping market sentiment and trends.
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Source: coincentral.com
