Senator Lummis slams United States’ Bitcoin sell-off as a ‘strategic blunder’

David Bailey claimed that a U.S. likely sell-off may have kept BTC price muted in the past.

U.S. Marshals revealed that the government holds 28,988 BTC instead of the expected 189K BTC. Pro-BTC Senator Lummis called the update a ‘strategic blunder’ if true. 

The U.S. government has hit the headlines amid speculation that it might have sold a big chunk of its Bitcoin [BTC] holdings.

The U.S. Marshals Service (USMS), the entity that custodies forfeited crypto assets, holds only 28,988 BTC ($3.4B).

This was according to a Freedom of Information Act (FOIA) request filed by an independent crypto reporter and X user, L0la L33tz. 

Speaking on the same, David Bailey, chairman of the Bitcoin Conference, termed it ‘bullish’ and added, 

“It looks like we might know how many Bitcoin the U.S. government is holding now, and it’s about 85% less than thought.”

The revelations elicited divergent views, but the consensus leaned toward a potential sell-off by the government.