US Strategic Bitcoin Reserve Faces Potential 30% Loss Amid Bitfinex Battle
US Strategic Bitcoin Reserve Faces Potential 30% Loss Amid Bitfinex Battle
The US Strategic Bitcoin Reserve, established by an executive order from former President Donald Trump, is at risk of losing nearly 30% of its holdings. This significant potential loss stems from a single legal ruling related to the intensifying Bitfinex battle, a scenario that could unfold without the government selling any of its consolidated BTC.
The US Strategic Bitcoin Reserve could lose nearly 30% of its holdings in a single legal move, even if the government does not sell a single coin. Last year, President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve. The order directed the Treasury Department to consolidate government-held BTC into a reserve account.