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The actual amount of Bitcoin under official U.S. government ownership is much lower than many thought. According to new information released through a public records request, only a fraction of the estimated holdings has been fully forfeited and handed over to federal custody.
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The number came to light following a Freedom of Information Act request filed on March 24 by independent journalist L0la L33tz. A letter from the U.S. Marshals Service General Counsel, dated July 15, confirmed the Bitcoin count came from the agency’s Asset Forfeiture Division.
The report disclosed that 28,988 BTC is in the hands of the U.S. Marshals Service—far less than the previously believed 200,000 BTC. The BTC value is based on current market rates, putting the stash at around $3.45 billion. The records also included a breakdown of wallet balances, ranging from just over $4,000 to as high as $100.95 million and $43.70 million.
Some parts of the documents were redacted for security and legal reasons, such as wallet addresses and storage protocols. But what was released was enough to spark new discussion, especially from those following the government’s handling of digital assets.
Senator Cynthia Lummis from Wyoming voiced concern about the update on X, writing:
“I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins.”
However, L0la L33tz stepped in to explain the gap. The 28,988 BTC mentioned in the report refers only to assets that have gone through the full court process and been legally forfeited. Seized assets still undergoing legal proceedings are not counted in that total. Until a court transfers ownership, the U.S. Marshals Service cannot legally sell or manage those assets.
This clarification is key. Blockchain analytics firm Arkham Intelligence estimates that the U.S. government controls roughly 198,000 BTC, worth over $23 billion. But much of that is still in limbo—held but not officially owned.
L33tz noted that platforms often overstate official holdings because they include seized crypto that has yet to be processed. A good example is the 94,000 BTC tied to the Bitfinex hack. The government controls those funds, but they are not yet its property under the law.
The U.S. Marshals Service plays a central role in handling crypto that has been through the forfeiture process. It stores, manages, and eventually sells such assets, distributing proceeds according to the law. But the difference between seized and forfeited is important—only the latter counts toward official government reserves.