U.S. crypto reserves fall 26% in value to about $24B, while government Bitcoin holdings remain unchanged.
One year after the U.S. launched a national crypto reserve strategy, the government’s digital asset holdings have lost billions in value. Market declines across major cryptocurrencies reduced the portfolio from more than $30 billion to about $22 billion. However, asset balances have stayed mostly unchanged.
Arkham Data Shows U.S. Crypto Wallets Now Worth Around $24B
On March 6, 2025, U.S. President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile. The decision followed the formation of a government working group tasked with studying crypto regulation and national reserve options.
Under the plan, two separate pools were created. One holds only Bitcoin, while the second contains a mix of digital assets. Before signing the order, Trump said the broader stockpile could include tokens such as XRP, Solana, and Cardano.
Most assets placed in the reserve came from forfeiture cases tied to criminal investigations. Previously, those coins sat across wallets controlled by several federal agencies. The executive order consolidated them under a single federal structure to manage the government’s crypto holdings.
Meanwhile, blockchain analytics firm Arkham Intelligence has tracked wallets linked to the U.S. government. Data collected on March 6 places the total value of government crypto holdings at about $24 billion.
Image Source: Arkham
Bitcoin accounts for nearly all of that value, with roughly $23 billion held in BTC. Smaller positions include USD Coin, Ether, Wrapped Bitcoin, and BNB.
At the time of the executive order, the same holdings were valued at more than $30 billion. Therefore, current levels represent a drop of about 26%. Despite the decline, officials say market volatility has not changed policy goals.
Deputy Press Secretary Kush Desai said price swings in open markets will not alter Washington’s commitment to maintaining leadership in emerging technologies, including crypto.
Bitcoin Remains Core of U.S. Crypto Reserve as Other Tokens Shift
Bitcoin balances themselves have remained steady. Government wallets still hold 328,372 BTC, according to Arkham data. Activity among other tokens has been less stable. Ether balances fell shortly after the executive order, suggesting transfers or exchanges between wallets.
However, those levels remained largely unchanged after April 2025. Moreover, Tether’s holdings also moved during the year. Wallet balances rose by more than 200 million tokens in May 2025 before later returning to earlier levels.
Buying additional BTC also appears unlikely for now, as government policy allows purchases only if they do not increase federal debt. Crypto and AI advisor David Sacks previously said that any acquisition strategy must remain budget-neutral.
Supporters argue that the OG coin could serve as a digital form of gold for national reserves. However, critics warn that mixed crypto stockpiles may create uncertainty if governments favor certain assets.
