Opinion: The US government could allocate up to 88,000 BTC from its strategic reserve, with over 110,000 BTC needing to be returned to Bitfinex

BlockBeats News, March 7th, Galaxy Digital's Head of Research Alex Thorn posted on X, stating: "The current maximum amount of Bitcoin available for the US government's strategic reserve is 88,000 BTC, representing only 43% of the government's current holdings. This is because out of the approximately 198,000 BTC currently held by the US government, 112,000 BTC will be returned to Bitfinex."

Note: A significant amount of BTC held by the US government is from the investigation of the Bitfinex hack that occurred in August 2016, where about 120,000 BTC were stolen. Bitfinex is currently attempting to recover this portion of the BTC, and it is expected to involve a lengthy legal process.