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A crypto wallet associated with the US government transferred over $8 million worth of Bitcoin, following an executive order by President Donald Trump to establish a Strategic Bitcoin Reserve. This move has drawn significant attention from the crypto community as authorities continue to manage seized digital assets.
The transaction, identified by blockchain analytics firm Arkham Intelligence, involved assets previously confiscated from a Binance account linked to Wanpadet Sae-Heng of Thailand. The seized holdings included 97 Bitcoin, along with other digital currencies such as Dogecoin, Ethereum, and Cardano. Sae-Heng was reportedly involved in a large-scale “pig butchering” investment fraud scheme, leading to the confiscation of these assets.
Details of the Bitcoin Movement
The recent transaction split the assets between two different wallet addresses. A small portion, valued at approximately $10 in Bitcoin, was sent to one address, while the bulk of the funds were directed to another. The purpose behind this division remains unclear, leaving analysts speculating about potential government strategies for handling digital assets.
This marks the first major Bitcoin transaction by US authorities since December, when nearly $1.9 billion worth of Bitcoin was moved to Coinbase Prime. The timing of the latest transfer coincides with Trump’s new directive, raising questions about whether it was related to the formation of the Strategic Bitcoin Reserve.
The US Government’s Expanding Bitcoin Holdings
Currently, the US government possesses approximately 198,012 BTC, valued at around $17 billion based on current market prices. This figure reflects substantial past transactions, as officials have regularly seized and sold Bitcoin linked to criminal activities.
Bo Hines, Trump’s top cryptocurrency advisor, stated that the government once held nearly 400,000 Bitcoin but sold almost half for under $1 billion—assets that would now be worth over $17 billion. This past liquidation has sparked criticism, with many arguing that the US missed a significant financial opportunity.
David Sacks, Trump’s AI and crypto czar, echoed these concerns, stating that had the government retained approximately 195,000 Bitcoin seized over the past decade, it could have gained an additional $17 billion in value. This has led to renewed scrutiny over how the US Marshals Service, which oversees asset management, has handled digital currency reserves.
The Strategic Bitcoin Reserve Initiative
Under Trump’s executive order, signed on March 6, all seized Bitcoin will now be funneled into the newly established Strategic Bitcoin Reserve. Unlike previous government sales of digital assets, this reserve aims to maintain Bitcoin as a long-term national asset rather than liquidating holdings for immediate revenue.
The order mandates a full review of federal digital asset holdings within 30 days and grants the Treasury Secretary authority to manage the US Digital Asset Stockpile. Additionally, both the Treasury and Commerce Secretaries have been directed to explore budget-neutral strategies to acquire more Bitcoin, ensuring the reserve expands without additional taxpayer costs.
This policy shift represents a stark contrast to previous US government approaches toward Bitcoin, potentially signaling a move toward deeper integration of digital assets into national financial strategies. As the Strategic Bitcoin Reserve takes shape, further transfers and acquisitions may follow, solidifying the government’s role in the cryptocurrency space.
No information published in Crypto Intelligence News constitutes financial advice; crypto investments are high-risk and speculative in nature.
