A White House crypto advisor has stated that he received confirmation from the US Department of Justice that no Bitcoin forfeited from the Samourai case was sold, effectively putting an end to ongoing rumors.
This confirmation was shared on the social media platform X by Patrick Witt, who serves as the Executive Director of the White House President’s Council of Advisors for Digital Assets.
Witt posted on X on Friday, "We have received confirmation from DOJ that the digital assets forfeited by Samourai Wallet have not been liquidated and will not be liquidated." He further added that the forfeited Bitcoin would be retained as part of the Strategic Bitcoin Reserve (SBR).
The issue of potential liquidation first emerged in November when blockchain analysts observed a transfer of 57.5 Bitcoin (BTC) from a US government-controlled BTC address to a Coinbase Prime deposit address.
At that time, the Marshals Service faced accusations of violating Executive Order 14233. This order, signed by President Donald Trump in March, mandates that any Bitcoin acquired by the government through criminal or civil forfeiture “shall not be sold” and must be held in the SBR.
US Government Holds Over 328,000 BTC
According to data from Bitcoin Treasuries, the US government currently holds a substantial amount of Bitcoin, totaling 328,372 BTC. This holdings is valued at over $31.3 billion based on current market prices.
This total includes a significant forfeiture of 127,271 Bitcoin that occurred in October. This forfeiture was from a company based in Cambodia that was allegedly involved in operating a fraudulent crypto investment scheme often referred to as a “pig butchering” scam.
Bitcoin Reserve Remains a Priority for the Trump Administration
In a recent interview on the program "Crypto in America," published on Tuesday, Witt reiterated that the development of the Strategic Bitcoin Reserve (SBR) remains a high priority for the administration. He indicated that progress would continue once the Treasury and Commerce agencies reach an agreement on how to address specific legal requirements related to the reserve.
Legislation sponsored by US Senator Cynthia Lummis aims to expedite this process. The proposed Bitcoin reserve bill seeks to facilitate the accumulation of 1 million Bitcoin over a five-year period.
The US government has previously stated its strategy for accumulating Bitcoin would involve budget-neutral methods, ensuring there would be no direct cost to taxpayers.