Bitcoin News
By Sakamoto Nashi
1 / 15
Jack Mallers, CEO of Bitcoin-focused payments firm Strike, has raised serious questions about the US government’s reluctance to disclose its Bitcoin holdings.
2 / 15
According to Mallers, the US is intentionally withholding its Bitcoin audit results because it does not hold enough BTC to claim a leadership role in the digital economy.
3 / 15
The criticism comes months after the Biden administration created the Strategic Bitcoin Reserve (SBR) through Executive Order 14233, signed on March 6.
4 / 15
However, the long-awaited 163-page strategy document released on July 30 offered no details on actual Bitcoin holdings.
5 / 15
Limited BTC Reserves Raise Questions About US Readiness
6 / 15
In a video shared alongside his post, Mallers expressed disappointment in the government's lack of clarity.
7 / 15
The Freedom of Information Act (FOIA) request submitted earlier this year revealed that the US Marshals Service controls just 28,988 BTC—valued at around $3.
8 / 15
Adding to the uncertainty, on-chain data indicates that the federal government transferred more than 30,000 BTC to Coinbase Prime in April 2024, with additional sales reportedly…
9 / 15
White House Remains Vague on Bitcoin Position
10 / 15
During interviews following the strategy release, Robert “Bo” Hines, executive director of the President’s Council of Advisers on Digital Assets, declined to reveal Bitcoin…
11 / 15
Mallers responded to the silence by pointing to the implications for the country’s image. “It’s a branding problem,” he said, suggesting that the current administration is…
12 / 15
Bitcoin Market Reacts to Supply and Demand Imbalance
13 / 15
At the time of writing, Bitcoin trades at $114,572, slightly down from its recent high of $123,000.
14 / 15
Mallers believes this supply-demand imbalance is bullish for long-term holders. “If the US wants to plant its flag as the crypto capital, it has no choice but to accumulate,” he…
15 / 15
Legislative Push for Bitcoin Reserve Faces Hurdles
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