The US Government is Set to Disclose its Crypto Assets — Are Altcoins On The List?
Talking about the US government and their crypto reserves seems to be the story that no one can stop talking about. There are so many angles to cover that it can single-handedly fuel conversations and arguments among expert analysts.
While former president Donald Trump did issue an executive order reserving a Bitcoin, there still remains uncertainty on whether altcoins like XRP, SOL, and ADA are also included. Nevertheless, a new revelation from the trump administration may soon answer questions on whether these cryptocurrencies will be included in the national reserve.
The US Department of Treasury along with some other federal agencies is expected to make public its Bitcoin and other cryptocurrencies assets during the week. With such an announcement pending, the assets and digital currency of the United States surely does have a lot in store for their financial systems.
The Major Crypto Audit Is Scheduled For April 5, 2025
According to David Bailey, CEO of Bitcoin Magazine, an important audit of the United States government is set to be carried out on the stated date wherein the Bitcoin reserves will be extensively reviewed.
The goal of this audit is to give count of Bitcoin held by the treasury and then either confirm or deny the existence of any other crypto asset. Bailey proposed such an outcome could help clarify the many unanswered questions surrounding the current market activities and the ongoing price fluctuations.
Apart from Bitcoin, the audit has the ability to answer the question as to whether XRP, SOL, and ADA are held by the government.
If this gets confirmed, it could show that there is a more widespread plan to use altcoins with the United States crypto reserve.
Potential Effect on America’s Cryptocurrency Environment
The prior president Trump had suggested keeping some selected altcoins in reserve along with their national strategic crypto reserve, which created some controversy. Supporters of Bitcoin opposed the idea as they claim there shouldn’t be any designation regarding other altcoins, emphasizing that Bitcoin is the only reserve asset that can stand on its own.
Despite the fact that Trump’s executive order was primarily focused on Bitcoin, his and the government’s role concerning altcoins still remains vague. This revelation could prove to be beneficial in clarifying the possible future regulations regarding digital asset reserves.
Analyzing United States of America Owned Bitcoin in Detail
According to estimates from Arkham Intelligence, the American government is in possession of 198,012 BTC, which roughly amounts to 16 billion dollars. Of the approximately 400,000 BTC that was seized by the authorities in the last decade through asset forfeiture civil and criminal cases, it is alleged that 400,000 BTC are not owned by the US government.
Even though the government’s Bitcoin’s hodlings are common knowledge, there is no clarity regarding their position on altcoins even after the upcoming audit. This audit will determine whether federal agencies have XRP, SOL, ADA, and other digital assets in their possession and whether these assets are actively being used in the national reserves or not.
