Amid plans to establish the first subcommittee focused on cryptocurrency oversight (within the Senate Banking Committee), Senator Cynthia Lummis sent a letter to the US Marshals requesting information on plans to sell bitcoin (BTC) holdings. ) from the United States.
Lummis’ letter formalizes an investigation process that the Committee will begin during the next Donald Trump administration. The idea is avoid the liquidation of about 69,000 BTC seized by the Silk Road case, which are in the hands of the Department of Justice.
As reported by CriptoNoticias, these bitcoins (equivalent to more than USD 6.5 billion) have been claimed by the company Battle Born Investments, as payment for an alleged debt due to the bankruptcy of the defunct platform. Last week, a federal judge ruled that can be put up for sale.
And while the judge’s decision doesn’t necessarily mean the U.S. Marshals will sell, it does imply a willingness to do so. Therefore, Lummis wants to put the focus on the matter, in full transition due to the change of government.
In your letterthe senator addresses Ronald L. Davis, currently in charge of the Marshals Service, asking about the actual amount of cryptocurrencies handled by the agency and about the reasons why there is no transparency on the holdings and sales of these assets.
He fears that plans for a liquidation are advancing and tries to investigate a probable urgency for Joe Biden’s government to carry out the sale of BTC.
“Of particular concern are the current plans to sell 69,370 Bitcoin,” Lummis notes, drawing attention to a stock that seems to be in progress. This, “despite President-elect Donald Trump’s announcement in July 2024 about establishing a national bitcoin reserve.”
“This hasty approach, which occurred during the presidential transition period, directly contradicts the stated policy objectives of the incoming administration,” Lummis notes.
At this point, the importance of the new administration being able to manage 100% is highlighted. of the United States holdings, which are estimated at more than 200,000 BTC. They are funds that will be part of the strategic reserve, according to the plans announced by Trump.
Hence I asked about the way in which the sheriffs plan to address the conflict between the current liquidation plan and the political objectives declared by the new president.
He adds that the sales that have been made so far may have caused the country unrealized losses of more than USD 18.5 billion. This is due to the rapid appreciation of the asset, which in recent months has been valued at more than USD 100,000.
These bitcoins represent an opportunity to diversify America’s assets and create a financial foundation that benefits future generations. The decision to keep or sell these assets will impact our nation’s financial sovereignty and strategic position for decades.
Cinthya Lummis.
In this way, the senator – who last year presented a bill to create a reserve in bitcoin – ratifies Trump’s intention to promote the plan, either through the approval of the Law or through an executive order.
