Bitcoin retracted to $118k after reaching an all time high of $122k on Monday. According to sources, L33tz founder of the Rage crypto trade publication filed a FOIA in March, 2025 and received a response on Wednesday. According to the reports, the US Marshal now holds 28,988 Bitcoins worth $3.5 billion.
In a letter from the Department of Justice, the U.S Marshals Service confirmed that as of March, it held just over 28,988 bitcoins, with an approximate value of $3.4 billion at the time.
The US Marshals Service is the federal court responsible for managing the seized assets received in cases, including the Federal Bureau of Investigation and the Internal Revenue Service.
According to sources, the founder of The Rage crypto trade publication, L33tz submitted the FOIA in March at the behest of Bitcoin Magazine Chair David Bailey. This FOIA was submitted to confirm the quantity of Bitcoin and Crypto they’re currently holding. This task also held a reward of $10,000.
Senator Cynthia, a major supporter of the US Bitcoin Strategic Reserve commented,
“I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins,”
She added further,
“If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.”
Arkham Data on US Bitcoin Holdings
The Binance built crypto data analytics platform, Arkham shows that the US government holds 198.912k Bitcoins worth $24.146 billion. With this data it is difficult to identify the exact amount of Bitcoin that the US government holds currently.
Source: Intel.Arkham
Since the federal agencies function in a centralised set up the exact amount of crypto holdings in the reserves cannot be found. However, this report does show how functioning in closed door systems can be a double edged sword.
Current president of the United States, Donald Trump is an ardent supporter of Bitcoin. He also signed an executive order to establish BTC as a strategic reserve on March 6, 2025.
Additional Reading: Trump Cuts Deal to End GOP Revolt on Crypto Bills
With Ethereum reaching $3460 and other alts rallying, Bitcoin could take another quarter before reaching another all time high. Investors are pouring capital in alts. According to data shown on Coinmarketcap, the altcoin index is up by 6 points.
Currently standing at 39, the altcoin season is on the anvil.
Bitcoin will see renewed interest from retail investors much after its anticipated upgrade comes into effect.