Senator Cynthia Lummis ‘Alarmed’ By Alleged U.S. Bitcoin Reserve Holdings
Main Idea
Senator Cynthia Lummis expressed alarm over reports that the U.S. government holds significantly less Bitcoin than previously believed, following revelations from a Freedom of Information Act request.
Key Points
1. Bitcoin Magazine Chairman David Bailey offered a $10,000 bounty to uncover the exact amount of Bitcoin held by the U.S. government.
2. Documents revealed the U.S. government holds 28,988 Bitcoin ($3.4 billion), far less than the estimated 200,000 BTC.
3. President Donald Trump established the U.S. Bitcoin Reserve and Digital Assets Stockpile in March 2025, with initial estimates suggesting 200,000 BTC holdings.
4. Senator Cynthia Lummis criticized the reported sale of over 80% of the U.S. Bitcoin reserves, calling it a 'total failure' if true.
5. The White House has not publicly commented on the discrepancy in Bitcoin holdings.
Description
Senator Cynthia Lummis (R-WY) is speaking out amid emerging reports that the U.S. may not hold as much in its Bitcoin Reserve as widely believed, according to research from an independent journalist posted on social media Wednesday. How Much Is In The Country’s Bitcoin Reserve Really? The saga began when Bitcoin Magazine Chairman David Bailey offered a $10,000 bounty to the journalist who could uncover the exact amount of Bitcoin currently held by the U.S. government in a July 16 X post. NEW: US...
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