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The US May Shed Light on Bitcoin Price on April 5: The Fate of XRP, SOL, and ADA Will Be Determined! - Coin Bulletin
The US government will shed light on the price of Bitcoin (BTC) with its upcoming official announcement regarding cryptocurrencies and will determine the fate of some altcoins.
In accordance with the instructions given by U.S. President Donald Trump in the past period, the U.S. Treasury Department and other federal agencies will disclose the ownership of Bitcoin and other cryptocurrency assets on April 5 and present a detailed report. This report will clarify whether digital assets such as Ripple (XRP), Solana (SOL), and Cardano (ADA) will be included in the national digital asset reserves.
On March 6, Donald Trump issued an executive order establishing a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpiling Plan." According to a presidential document released on March 11, all federal agencies will report their ownership of Bitcoin and other digital assets to the Treasury Department within 30 days of the executive order.
The Ministry of Finance will also establish two offices to manage government-owned digital assets. The Strategic Bitcoin Reserve will hold Bitcoins obtained through criminal and civil seizures and will not sell these Bitcoins. This reserve will be positioned as a "digital Fort Knox" for the purpose of storing long-term value.
BTC Inc. CEO David Bailey stated that the upcoming audit could shed light on the recent volatility of Bitcoin prices. Bitcoin rose to $92,000 following Donald Trump's reserve decision but later dropped to around $76,000.
According to Arkham Intelligence data, the US government currently owns approximately 198,012 Bitcoin, which is worth about 16 billion dollars. The White House's crypto czar David Sacks stated that the government had acquired approximately 400,000 Bitcoin through criminal and civil seizures over the past decade. However, half of this amount, or 195,000 BTC, was sold, generating 366 million dollars in revenue. If the government had held all 400,000 BTC, its current value would exceed 17 billion dollars.