Senator Cynthia Lummis, spearheading the effort to establish a U.S. Strategic Bitcoin Reserve, has sent a letter to the U.S. Marshals Service inquiring about the reason for selling 70,000 bitcoin.
Senator Lummis writes, “The U.S. Marshals Service track record in handling seized Bitcoin reveals a concerning pattern of losses for American taxpayers. Based on historical sales data, the Service has sold approximately 195,092 Bitcoin between 2014 and 2023 for a total of approximately $366.5 million. At current market prices, these same Bitcoin would be worth over $18.9 billion, representing a loss of more than $18.5 billion in unrealized value for American taxpayers – a staggering 98% loss in potential value. This pattern raises serious questions about the Service’s approach to managing and liquidating Bitcoin.”
The U.S. government cannot continue denying the value of Bitcoin and digital assets; it’s costing taxpayers billions. I sent a letter to the U.S. Marshals Service asking why they plan to sell nearly 70,000 Bitcoin.⬇️ pic.twitter.com/yUWN3Dx6Vm
— Senator Cynthia Lummis (@SenLummis) January 16, 2025