Senator Lummis slams United States’ Bitcoin sell-off as a ‘strategic blunder’

Key Points

1. The U.S. Marshals Service (USMS) holds only 28,988 BTC ($3.4B), far less than the expected 198K BTC, as revealed by a FOIA request.

2. David Bailey suggested the U.S. may have sold part of its Bitcoin holdings via swaps, leaving no on-chain trace.

3. Arkham data estimates the U.S. government holds about 198K BTC ($23B), but some BTC from Silk Road has not yet been forfeited.

4. Senator Cynthia Lummis criticized the reduced holdings as a 'strategic blunder', stating it sets the U.S. back in the Bitcoin race.

5. The likelihood of a U.S. Strategic Bitcoin Reserve (SBR) being created by 2025 dropped from 80% to 30%, according to Polymarket.