U.S. Marshals Hold Just 29,000 Bitcoins—Far Less Than Expected, FOIA Shows

The U.S. Marshals Service holds far fewer bitcoins than previously estimated, according to new records released through a Freedom of Information Act (FOIA) request—raising fresh questions about the scale and strategy of America's crypto holdings.

As of March 2025, the Marshals Service reported holding just 28,988 BTC, worth around $3.4 billion at current market value. That figure, disclosed in response to an FOIA request filed by independent crypto journalist L0la L33tz, is significantly lower than many experts and observers had assumed.

The request was made on behalf of Bitcoin Magazine Chair David Bailey, who had offered a $10,000 reward for confirmation of the federal government's actual crypto reserves.

Big Gap Between Assumptions and Reality

Public estimates had previously suggested that the U.S. government controlled well over 198,000 BTC—roughly $25 billion worth—based on blockchain tracking tools and seizure records. Arkham Intelligence, for instance, has pegged total U.S. agency holdings across all cryptocurrencies near that amount.

However, there’s an important distinction: while multiple agencies—including the IRS, FBI, and Secret Service—may seize digital assets, the U.S. Marshals Service is typically responsible for managing and auctioning them after court rulings. Its holdings represent only the assets in custody, not necessarily the full reserve of government-seized crypto, which could be scattered across other departments or already sold.

The lack of a centralized or transparent federal ledger makes it difficult to track exactly how much crypto the U.S. government currently holds—or has liquidated.

Strategic Bitcoin Reserve Under Scrutiny

The timing of the FOIA response adds weight to an ongoing political debate. In March, President Donald Trump signed an executive order to consolidate federal crypto holdings into a Strategic Bitcoin Reserve overseen by the U.S. Treasury Department. The order also created a U.S. Digital Asset Stockpile for non-bitcoin assets forfeited in legal proceedings.

Trump’s appointed “crypto czar,” David Sacks, has floated strategies for acquiring more bitcoin using so-called “budget-neutral” methods, further signaling the administration's bullish stance on digital reserves.

Still, the newly revealed figure has sparked criticism.

“I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins,” tweeted Senator Cynthia Lummis, a vocal proponent of the reserve plan. “If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.”

The disclosure that the U.S. Marshals Service holds just under 29,000 BTC is a rare glimpse into the federal government’s crypto operations—and it has stirred more questions than answers. As the government moves to centralize and potentially expand its digital asset reserves, transparency around holdings and strategy will be key. For now, the exact scope of America’s crypto arsenal remains mostly in the shadows.