NEWSLETTER
At the Digital Assets Summit on March 19, Senator Cynthia Lummis (R-WY) said that the previous Biden administration may have sold a significant part of the confiscated holdings of bitcoin of the United States. During a discussion panel, Senator Lummis described his concerns, explaining that although the United States government may have accumulated a large sum of btc through the loss of assets, some of these funds could have been liquidated during the Biden era.
Did Biden sold bitcoin?
“We are trying to find out how much bitcoin and if they deliver completely to custody. We believe that this could be the basis for the delivery of the first year of a strategic bitcoin reserve. We believe that the United States has had around 200,000 bitcoin in the loss of assets. What we do not know is how much of the Biden administration was selling right before the Trump administration assumed the position,” Lummis <a target="_blank" href="https://x.com/pete_rizzo_/status/1902538029220122692″ target=”_blank” rel=”noopener nofollow”>saying.
According to Lummis, his office issued formal consultations at the service of US sheriffs. And spoke with the United States attorney general in the Donald Trump cabinet, Pam Bondi, in an attempt to confirm exactly how many btc are under federal control. When asked why it seems difficult to determine the precise holdings, Lummis was overwhelming:
“This should be easy to understand. It should be easy to understand why a federal agency has twice more credit cards issued than employed in the agency. I mean, there is so much lack of simple accounting and commercial practices in the federal government that would surprise you. It is inexcusable.”
Lummis has been a vocal defender of integrating btc into the financial structure of the United States. Last week, bitcoin's law reintroduced at a conference organized by bitcoin Policy Institute, with the aim of establishing a strategic bitcoin reserve for the federal government. The legislation proposes to acquire up to one million btc for five years, positioning bitcoin as a reserve of value similar to gold reserves.
Also at the Digital Assets Summit, Congressman Tom Emmer (R-MN) <a target="_blank" href="https://x.com/BitcoinMagazine/status/1902397250388590682″ target=”_blank” rel=”noopener nofollow”>revealed This multiple legislation circulates in Congress with similar objectives. Emmer expressed his confidence that these efforts to establish a strategic bill of the bitcoin Reserve to buy 1 million btc will be promulgated: “Yes, there is legislation. I think there are different members who have different versions … I think that before this congress is done, that will be promulgated.”
BO HIES, Executive Director of the Presidential Council of Advisors of the United States for digital assets, <a target="_blank" href="https://x.com/TheBTCTherapist/status/1902488627051106440″ target=”_blank” rel=”noopener nofollow”>speak In a separate interview about the history of the United States with bitcoin seized. According to Hines, the government once had approximately 400,000 btc, but sold approximately half for about $ 370 million, a sum that would be worth almost $ 17 billion in current valuations.
“If we had clinging to that, it would have been worth $ 17 billion today. I mean, just shows how important this active is and what we can do with him to benefit the US people.”
Hines also confirmed the white house ambition to expand the bitcoin reserves of the US government. UU. In a neutral neutral budget: “We feel that it is the best for Americans to this long -term asset and we accumulate as much as we can … We have talked about building the Fort Knox Digital for the United States.”
He stressed that such bitcoin strategy would be neutral in the budget, avoiding any additional taxpayers. HIES believes that the internal work group established through the first executive order of digital assets will produce “tremendous ideas about how to achieve this.”
Two weeks ago, President Donald Trump signed an executive order that demanded the creation of a strategic Bitcoins reserve. The reserve must be financed by btc seized under the confiscation procedures for criminal or civil assets. According to the order, the relevant agencies must provide a comprehensive accounting of their digital assets to the Secretary of the Treasury and the president's work group in the digital asset markets.
At the time of publication, btc quoted at $ 85,748.
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