In March 2025, President Trump signed an executive order creating a Strategic Bitcoin Reserve and mandated that all federal agencies inventory their digital assets within 30 days. Independent estimates of the reserve range from 198,000 to 328,000 BTC, a gap of approximately 130,000 coins worth roughly $8.18 billion. This discrepancy is partly explained by 127,271 BTC seized from Chen Zhi, founder of Cambodia’s Prince Group, whose final forfeiture has not yet been completed. The Justice Department called this seizure the largest forfeiture action in its history, but a civil complaint does not constitute a final judgment granting unrestricted ownership to the government. Treasury has published neither a comprehensive asset inventory nor an official opening balance for the reserve, leaving the public uncertain about the actual amount of sovereign Bitcoin holdings.
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