Amidst swirling reports from independent journalists, Senator Cynthia Lummis (R-WY) has voiced strong concerns over the actual size of the United States' Bitcoin Reserve. Emerging information suggests the nation's Bitcoin holdings may be substantially less than widely assumed, prompting a call for clarity and potentially signaling a "strategic blunder."
The controversy ignited when David Bailey, Chairman of Bitcoin Magazine, offered a $10,000 bounty on July 16 for any journalist who could pinpoint the exact amount of Bitcoin held by the U.S. government. Independent journalist Lola Leetz responded swiftly, presenting documents purportedly from the United States Marshals Service. These documents, obtained through a March 2025 Freedom of Information Act (FOIA) request, indicate that the U.S. Bitcoin holdings were valued at just $3.44 billion at that time.
"It looks like we might know how many Bitcoin the US government is holding now and it's about 85% less than thought," Bailey commented in an X post on Wednesday. He added, "Explains why the price action was stuck for so long. Bullish."
This revelation directly contrasts with earlier estimates. When President Donald Trump formally launched the country's Bitcoin Reserve and U.S. Digital Assets Stockpile via an executive order in March 2025, White House AI and Crypto Czar David Sacks had estimated the U.S. government held around 200,000 Bitcoin. At the time, no formal audit of these cryptocurrency holdings had been completed. The executive order stated, "This move harnesses the power of digital assets for national prosperity, rather than letting them languish in limbo."
Senator Lummis, a vocal advocate for cryptocurrencies in Congress, quickly expressed her dismay. "I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins," Lummis wrote. "If true, this is a total strategic blunder and sets the United States back years in the Bitcoin race."
The significant disparity between the reported 200,000 Bitcoin and the approximately 29,000 coins suggested by the FOIA request, amounting to a potential reduction of over 85%, has sparked intense debate within the crypto community and among policymakers. The White House has yet to issue an official public comment on the matter, leaving many questions unanswered regarding the management and current status of the nation's strategic digital asset reserves.
July 2025, Cryptoniteuae