The US government’s cryptocurrency reserves have been a subject of much speculation, especially with questions surrounding whether altcoins like XRP, Solana (SOL), and Cardano (ADA) will be included. The revelation is expected following a government audit, scheduled to be completed by April 5, 2025.
The process, which began after an executive order from President Donald Trump aimed at creating a Bitcoin reserve, has raised curiosity about other cryptocurrencies’ inclusion in the government’s holdings. The Treasury Department and other agencies are meeting this week to disclose their Bitcoin and crypto reserves, which will shed more light on the government’s crypto portfolio.
Bitcoin Magazine CEO David Bailey hinted that the audit might provide significant insights into the government’s Bitcoin holdings, which are spread across various federal agencies. He also mentioned that the audit could answer many questions related to the recent price action of cryptocurrencies.
While Bitcoin’s presence in the government’s reserve is well-documented, with the US currently holding about 198,012 Bitcoins worth around $16 billion, the status of altcoins like XRP, SOL, and ADA remains unclear. The audit is expected to clarify this and offer more transparency on whether these altcoins are part of the US government’s crypto assets.
Bitcoin enthusiasts have expressed concerns about the inclusion of altcoins, but the audit may provide much-needed clarity on this issue. Additionally, the audit may reveal the government’s strategy regarding altcoins and their potential future role in the crypto market.
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