- The U.S. Bitcoin reserve is likely 112,000 BTC, significantly lower than previous estimates.
- China reportedly holds 194,000 BTC, surpassing the U.S. in national Bitcoin ownership.
- The U.S. may return 95,000 BTC to Bitfinex, further reducing its reserves.
The US government’s BTC reserves have recently been in the crosshairs as Samson Mow, the CEO of Bitcoin-oriented technology company JAN3, speaks out. Mow said that the SBR unveiled recently is not an acquisition model, but it is more centered on holding onto the seized ones.
Bitcoin Reserves in the U.S. and China
Mow asserts that the U.S. may not hold as much Bitcoin as commonly reported. Estimates often suggest that the government has between 207,000 and 220,000 BTC. However, Mow differs this figure, stating that the actual number is likely closer to 112,000 BTC or less. He explains that 95,000 BTC in the government’s custody belongs to Bitfinex and will eventually be returned.
According to Mow, China owns 194,000 BTC, and in this case, it ranks number one ahead of the U.S. This raises questions of which country possesses the largest amount of preserved Bitcoins. Due to Bitcoin’s ever-growing role in the digital economy, states may continue to obtain Bitcoins to retain the dominant stake in the field.
Bitfinex Hack and Seized Bitcoin
The U.S. Bitcoin holdings include assets impounded from cyber crimes. In 2016, hackers embezzled approximately 120,000 BTC from the crypto exchange Bitfinex. Law enforcement later retrieved 95,000 BTC, which remains under government supervision. Mow states that these funds will be returned to Bitfinex, significantly reducing the government’s total holdings.
Mow states that the U.S. will not allow a scenario where China maintains the largest Bitcoin reserve. The introduction of the SBR indicates that Bitcoin has become a critical asset for governments. As nation-states evaluate their positions, global competition over Bitcoin holdings may intensify, affecting future policies on digital assets.
Some crypto investors believe this move is insufficient, arguing that it does not increase the nation’s BTC reserves. However, Mow states that the SBR marks the start of a larger trend, pushing more governments toward national Bitcoin adoption.
