US Bitcoin Reserve Faces Potential 30% Drop Due to Bitfinex Restitution
The US Strategic Bitcoin Reserve could see a significant reduction of nearly 30% due to ongoing legal proceedings related to the 2016 Bitfinex hack. The reserve, established by executive order, currently holds approximately 328,372 BTC, valued at around $21.6 billion. However, a substantial portion, about 94,643 BTC, is linked to the Bitfinex theft. According to reports, if a court orders the return of these coins as restitution to victims, the reserve would decrease to roughly 234,000 BTC. The legal status of these coins is under debate, as they are entangled in criminal cases and restitution claims. The distinction between fully forfeited BTC and those subject to legal processes is crucial for understanding the true size and durability of the US Bitcoin Reserve.
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