Following President Donald Trump’s recent executive order, the US Department of the Treasury and federal agencies are expected to disclose their Bitcoin and other cryptocurrency holdings on April 5.
The announcement is anticipated to reveal whether assets such as XRP, Solana, and Cardano, previously mentioned by Trump, are included in the government’s digital asset reserves.
According to a presidential document published on March 11, all federal agencies were given 30 days to report their digital asset holdings to the Treasury Secretary. The directive also requires the establishment of two new offices to oversee these assets, with the Strategic Bitcoin Reserve specifically designated for Bitcoin acquired through civil or criminal forfeiture.
Trump’s executive order issued on March 6 mandated the creation of a Strategic Bitcoin Reserve and a Digital Asset Stockpile.
The forthcoming disclosure is expected to clarify the scope of the government’s crypto holdings, which could have broader implications for the market. David Bailey, CEO of BTC Inc, noted that the audit results might help explain Bitcoin’s recent price fluctuations. “Depending on what we learn, it might answer many of the open questions about the recent price action,” Bailey said.
Unlike other holdings, Bitcoin in this reserve will not be sold, positioning it as a long-term store of value akin to a “digital Fort Knox.”
White House crypto czar David Sacks stated that the government has accumulated roughly 400,000 BTC through asset forfeitures over the past decade. However, about half of that (195,000 BTC) was sold, generating $366 million. If those holdings had been retained, their value today would exceed $17 billion.
According to data from Arkham Intelligence, the US government currently holds approximately 198,012 BTC, valued at around $16 billion.
Concerns over trade tensions and recession risks have contributed to a 10% decline, with Bitcoin dropping from over $92,000 to around $82,000.
While this federal transparency initiative unfolds, individual states aren’t waiting to forge their own paths forward. According to Bitcoin Laws, at least 23 states have introduced Bitcoin reserve bills, with 35 proposals still under consideration.
As federal agencies prepare to disclose their crypto holdings, U.S. states are making aggressive moves to integrate Bitcoin into their financial systems.
This legislation grants residents the right to self-custody Bitcoin and supports crypto mining, reinforcing Kentucky’s position as a major mining hub. Kentucky is currently responsible for 11% of the U.S. Bitcoin hash rate.
Other states are following suit. Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203) cleared the House with a 77-15 vote and is now awaiting Senate approval. If passed, it would allow state funds to be allocated to Bitcoin and other digital assets.
Kentucky recently took a big step, with Governor Andy Beshear signing the “Bitcoin Rights” bill (HB 701) into law.