USA’s Bitcoin Reserve: Reports from Trump’s Team Hesitant
New reports have emerged claiming that the USA is amassing a Bitcoin reserve. The publicized details come from advisors close to Trump and remain hesitant. The background of these claims is interesting.
In recent weeks, among others on Reddit, rumors started that the US government supposedly holds a massive Bitcoin reserve of 14,000,000 BTC. This information likely comes from the well-known Blockchain analyst Willy Woo, who mentioned the number in May during a podcast. Since then, the topic has been a recurring subject of discussion in the community.
In the meantime, news outlet Cointelegraph has received confirmation from John McAfee’s well-connected research team that the US government indeed possesses a Bitcoin reserve. According to McAfee’s associates, former presidential advisor Steven Mnuchin forwarded this insight from the Trump camp. According to them, while not the entire 14 million BTC are held, it does confirm that Bitcoin is purchased at a rapid pace to fill a reserve.
On the other hand, it remains unverified what data Mnuchin and his circle rely upon. Willie Woo’s YouTube description declared the total Bitcoin in circulation at about 19 million BTC. If 14 million BTC were held by a single party, the address could be easily identified on the blockchain. Yet no such massive holdings have surfaced.
As such, skepticism regarding the USA creating a Bitcoin reserve should persist. Mnuchin could indeed have knowledge about American intentions for the cryptocurrency market. However, whether these are factual actions or just considerations remains open.
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