The US Marsals Service (USMS) seems to contain slightly less than 29,000 bitcoin, much lower than the more than 200,000 BTC many believed that the government had in custody.
The updated figure, confirmed via a Freedom of Information Act (FOIA) request By independent crypto journalist L0LA L33TZ on July 16, the total of the government will place BTC from March 2025 on 28,988 BTC.
At the current prices, that stock is worth around $ 3.4 billion. This is strongly contrasted with the estimate of $ 23.5 billion of blockchain analysis platforms such as Arkham Intelligence and Bitcoin treasuries.
The discrepancy has speculation in the crypto space inflamed, in which some observers wondered whether the US has quietly sold its Bitcoin companies.
[Editor’s Note: Given that President Trump announced that seized Bitcoin would become part of a Strategic Bitcoin Reserve earlier this year, it is also possible that the Bitcoin is simply no longer under US Marshals custody. However, who controls the keys for the Bitcoin tracked onchain remains unclear.]
Does the US sell its bitcoin?
Bitcoin Magazine CEO David Bailey suggested The US has probably sold important parts of its BTC reserves for President Donald Trump in January. He noted That the lack of visible activity on the chains may not prove anything as a result of the involvement of custody.
He stated:
“I think it is convincing that they have sold without creating the footprint of Onchain.”
Bitcoin analyst Sani, who follows the addresses that are probably linked to US government portfolios, did not confirm recent transactions from those addresses.
However, he pointed out that as preservators such as Coinbase facilitated off-chain swaps, traditional blockchain tracking may no longer clarify the government’s activity.
Sani added:
“If that is really what happens, then all the tracking on the chain we have done, including mine, may not be anymore.”
Senator Cynthia Lummis, a vocal advocate for a National Bitcoin reserve, responded with concern about this development. She said:
“If it is true, this is a total strategic blunder and puts the United States in the Bitcoin race for years.”
Seized versus forfeited bitcoin
L33TZ clarifying That the FOIA request only dealt with Bitcoin assets of the Foia, legally transferred to government possession.
According to her, many seized assets, such as current investigations or hacks such as Bitfinex, are not yet a government property and they can live with other federal agencies such as the DEA or FBI.
She emphasized that platforms such as Arkham can incorrectly display totals by seizing and combining forfeited coins. L33TZ pointed out:
“For example, Arkham mentions 94k BTC of the Bitfinex -Hack, but forfeiture in the Bitfinex case was not decided, at least the last time I checked it.”
Blockchain security expert Taylor Monahan also offered further explanation, point to That legal detention is not the same as ownership.
She noted that in many cases seized coins, the ownership of victims remain and will never become US government agents.
Monahan emphasized constant legal processes, ranging from civil forfeit to Iepa, determining the fate of seized property.
She quoted various examples, including a case in which the FBI currently owns $ 40 million in crypto that is linked to a theft of August 2024, but these coins are expected to be returned to the rightful owner under the conditions of a plea.
Given this, Monhan stated:
“Usually the coins seized by USG are not owned by the USG. They are returned to the victim who has been hacked or cheated.”
