US Marshals Service holds just 28,988 BTC, far less than expected, FOIA request reveals

The U.S. Marshals Service holds far fewer bitcoins than previously believed, according to a Freedom of Information Act request filed by independent crypto journalist L0la L33tz.

In a letter sent by the Department of Justice, the agency reported holding slightly more than 28,988 bitcoins — worth about $3.4 billion at current prices — as of March.

Arkham Intelligence, for example, estimates that the U.S. government holds nearly $25 billion worth of cryptocurrency assets across all its agencies. That said, the exact number of federal agencies holding crypto is difficult to confirm due to the lack of centralized public databases and the often covert nature of seizure operations.

Bitcoin Treasuries also estimatesthat the U.S. government holds 198,012 $BTC, worth approximately $25 billion.

The U.S. Marshals Service, the nation’s federal court enforcement agency, typically manages and auctions any tokens seized by organizations, including the Federal Bureau of Investigation and the Internal Revenue Service.

L33tz, the founder of The Rage crypto trade publication, submitted the FOIA request in March and reportedly received a response on Wednesday. She was fulfilling a request by Bitcoin Magazine Chair David Bailey “to confirm the quantity of Bitcoin and Crypto they’re currently holding” for a $10,000 reward.

President Donald Trump has previously stated that the U.S. government would hold onto its bitcoin holdings as part of a Strategic Bitcoin Reserve. In March, he signed an executive order mandating that federal agencies transfer their holdings to the Treasury Department, which would oversee the reserve.

Trump's crypto czar, David Sacks, has also outlined supposedly “budget-neutral” strategies for acquiring additional bitcoin for the government fund. The March 6 executive order also established a U.S. Digital Asset Stockpile consisting of digital assets other than bitcoin forfeited in criminal or civil proceedings.