US President Trump officially signed an executive order this (7th) morning to establish a Bitcoin strategic reserve and a digital asset reserve, sourced from Bitcoin confiscated by the federal government through criminal or civil proceedings, which has attracted widespread market attention.
According to Arkham statistics, the US currently owns 198,109 BTC, with a current value of about $17.6 billion.
The US reserve has a maximum of 90,000 Bit, not 200,000
However, regarding the exact amount of Bitcoin reserves, Alex Thorn, head of research at investment management giant Galaxy Digital, tweeted that the US currently has a maximum of 86,000 Bit available for asset reserves, and the remaining about 112,000 Bit will be returned to the hacked exchange Bitfinex in the future:
We believe the maximum number of Bit that the US government can currently redeploy as reserves is 88,000 BTC (the author corrected to 86,000 Bit), accounting for only 43% of its total holdings. This is because out of the approximately 198,000 BTC currently held by the US government, 112,000 BTC will be returned to Bitfinex.
Alex Thorn's argument is largely correct, but the numbers have a slight error. The US government has currently recovered 108,068 Bit from the Bitfinex hacking case, which is slightly different from the aforementioned 112,000. In addition, the exact number of Bit held by the US government is 198,109, and after deducting the 108,068 Bit to be returned to Bitfinex, the maximum that can be invested in the reserve is 90,041 Bit.
As for when these 108,000 BTC will be returned to Bitfinex, the US government did not mention it in its statement in January, but the US government believes that this seized Bit should be returned to Bitfinex as physical compensation.
Coinbase CEO: Expects G20 countries to follow suit
On the other hand, after Trump signed the executive order on the Bitcoin strategic asset reserve, Coinbase CEO Brian Armsttrong immediately tweeted that he expects G20 (Group of Twenty) countries to follow the US "Bitcoin asset reserve" program:
The execution of the Trump administration is amazing, this is a historic moment for Bit and cryptocurrencies.
I expect many G20 countries to pay attention (to the Bitcoin strategic reserve) and ultimately follow the US leadership.
