Peter Schiff has confirmed that the U.S. government will not be purchasing Ethereum (ETH), XRP, Cardano (ADA), or Solana (SOL) for its crypto holdings. Instead, the newly established Strategic Bitcoin Reserve (SBR) will hold only seized Bitcoin (BTC), reinforcing its position as the dominant digital asset. While the executive order signed today allows room for potential Bitcoin purchases, these would likely require approval from Congress.
Earlier reports had suggested that a government-backed crypto reserve might include XRP, ADA, SOL, and ETH, leading to a surge in their prices. However, the latest update clarifies that the U.S. government has created a separate Digital Asset Stockpile for these altcoins, but it will not be making any additional purchases. This stockpile will only contain assets seized through legal actions and will be managed by the Treasury.
Depending on regulations, these tokens may either be held or sold, but the government will not actively add to them.
Bitcoin, in contrast, will have its own Strategic Bitcoin Reserve (SBR), further reinforcing its importance in government holdings. An audit set to take place within 30 days will disclose the total amount of cryptocurrency the government owns and how these assets will be categorized. The move highlights Bitcoin’s priority over other digital assets.
Schiff clarified that the government will not be buying additional cryptocurrencies. Any XRP, ADA, SOL, or ETH in the Digital Asset Stockpile will come solely from past forfeitures. This means no new assets will be added unless they are seized in future legal cases.
Meanwhile, blockchain data from Arkham Intelligence confirms that the U.S. government currently owns zero XRP, SOL, or ADA. This contradicts earlier speculation that a broader crypto reserve was being established. However, some analysts, including Moon Lambo, believe the government might hold small amounts of these assets from lesser-known seizures, but if so, the holdings are likely insignificant.
Right now, the U.S. government holds around 200,000 BTC, obtained through various legal seizures. While Bitcoin remains the primary focus, the government also has approximately $176 million worth of ETH and $27 million worth of BNB. However, no XRP, ADA, or SOL have been confiscated, raising questions about why they were included in the stockpile designation.
The crypto community, particularly Bitcoin supporters, has welcomed the government’s decision, as it further separates BTC from other cryptocurrencies. This move strengthens Bitcoin’s reputation as “digital gold” and solidifies its role as a strategic asset. However, investors who had speculated that major altcoins would be included have been left disappointed.
The government’s stance on cryptocurrency is still a major topic of interest. The market will be watching closely to see if Bitcoin purchases receive approval and how the Digital Asset Stockpile will be handled.
While Bitcoin’s dominance in government holdings is clear, the future of seized altcoins remains uncertain.
There are only 48 hours left to participate in the Kaanch presale at a convenient…
Sei has caught investor attention for its high-speed DeFi infrastructure and native order-matching engine, built…
The crypto markets are on the edge of closing the half-year trade with the Bitcoin…
The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple is finally…
After seeing sky-high returns from early bets on Shiba Inu (SHIB), the meme coin crowd…
Ripple co-founder Chris Larsen recently shed light on XRP’s origins during an episode of the…
