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"The US Strategic Bitcoin Reserve now holds more BTC than every other nation-state in the world combined. But for once, it’s not because of Big Crypto’s influence in Washington. The true origins of America’s Bitcoin bags appear grimier and slimier the closer you look. Today, we investigate how the US government stacked all those sats, and what they could do with them."
~ Coin Bureau
The US government is estimated to hold around 325,000 Bitcoin (BTC), making it the world's largest sovereign Bitcoin holder, with more BTC than all other nations with publicly acknowledged reserves combined. This massive holding stems primarily from law enforcement seizures related to criminal activities, such as the Silk Road Darknet marketplace, the 2016 Bitfinex hack, and the massive Prince Group "pig butchering" scam network. Because the government has not publicly disclosed its total holdings, the 325,000 BTC figure is an investigative estimate pieced together from Department of Justice (DOJ) press releases and court filings, which is corroborated by on-chain analysis from firms that track the movement of these seized funds.
Historically, the government's policy was to liquidate, or "dump," all seized Bitcoin through public auctions via the US Marshall Service (USMS). However, an executive order signed in March 2025 drastically changed this policy by establishing the "Strategic Bitcoin Reserve." This order ended the liquidation model, mandating that forfeited Bitcoin be retained and maintained as a reserve asset, effectively making the US government a "hodler." This shift in policy came after a calculation showed that selling the previously seized 195,000 BTC resulted in a potential loss of over $18.5 billion in value for American taxpayers, highlighting that the old auction model was "catastrophically value destructive" for an asset that rapidly appreciates.
0:00 Intro
0:59 Background
3:01 USMS and Bitcoin
6:21 The Rogues’ Gallery
13:59 The Paper-iest of Hands
19:09 What Happens Now
Source - Coin Bureau YouTube: https://www.youtube.com/watch?v=w4dPDCkaELs
Disclaimer: This video is provided for informational purposes only, and not offered or intended to be used as legal, tax, investment, financial, or any other advice.
