Jan3 CEO Samson Mow has dismissed doubts that the U.S. newly established Strategic Bitcoin Reserve (SBR) would not expand its holdings beyond seized assets.
In his statement announcing the creation of the Reserve, White House Crypto Czar David Sacks confirmed that the reserve will initially be funded by Bitcoin seized through civil and criminal forfeitures to ensure that there is no burden on taxpayers.
However, some stakeholders have argued that the SBR lacks a direct acquisition strategy. Mow insists that “there will be buying.” He outlined budget-neutral methods such as issuing Bitcoin-backed bonds or selling gold to acquire BTC. He also hinted that Howard Lutnick, CEO of Cantor Fitzgerald, could play a key role in facilitating these acquisitions.
Some Bitcoiners are saying the Strategic Bitcoin Reserve doesn’t do anything because it’s just seized assets and there’s no buying.
Well, there will be buying. There are a number of “budget neutral” ways to acquire Bitcoin such as issuing #BitcoinBonds or selling gold. Give it… pic.twitter.com/zBxYhQwMZ8
— Samson Mow (@Excellion) March 7, 2025
Beyond its symbolic impact, Mow noted that the SBR could clarify the U.S. government’s actual Bitcoin holdings. He pointed out that the exact amount of BTC controlled by federal agencies remains uncertain, largely due to the U.S. Marshals’ historical practice of auctioning off seized Bitcoin.
Though current estimates vary, Mow believes the U.S. government holds approximately 112,000 BTC or less. He noted that 95,000 BTC belongs to Bitfinex and is expected to be returned, contradicting widely cited reports that the U.S. holds between 207,000 and 220,000 BTC. If accurate, this would place China ahead of the U.S., holding 194,000 BTC—a scenario Mow calls “unacceptable” for policymakers.
However, Mow’s stance on Trump’s broader crypto strategy has not been entirely supportive. Previously, he challenged the president’s announcement of a Crypto Strategic Reserve, which includes Ethereum, XRP, Solana, and Cardano alongside Bitcoin. Mow suggested that Trump’s statement may have been politically motivated, possibly aimed at appeasing lobbyists or securing campaign donations rather than ensuring the actual inclusion of these altcoins in a national reserve.
Despite his skepticism about the altcoin component, Mow underscored the strategic significance of the SBR, comparing it to a “digital Fort Knox” and arguing that the executive order officially elevates Bitcoin to the same status as gold. He emphasized that the move builds upon the legitimacy established by spot Bitcoin ETFs, which opened the door for institutional investments in the asset class.
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