From Samourai’s Seized Coins to UFOs: A Strange Week in Bitcoin

TL;DR

• The U.S. Government didn't sell seized BTC and will reportedly move them into the strategic digital asset reserve.

• A former Bank of England analyst urges the central bank to prepare for alien disclosures (yes, aliens!) that could spark market crashes. 

U.S. Government Denies Claim That Seized Bitcoin Was Sold and Says They Will Go Into the National Reserve 💪

Things move fast in Bitcoin. Just last week, I wrote about the Samourai Bitcoin stash and uncertainty around whether the U.S. government has sold seized BTC. 

This week, we already have an answer. 

In a brief statement on X, Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets and Deputy Director at the Department of War's Office of Strategic Capital, wasn’t liquidated and per Executive Order 14233 will not be sold. 

In addition to Witt, Treasury Secretary Scott Bessent also addressed this at an event. 

He was also asked if the coins were sold, and he reiterated that "The policy of this government is to add seized Bitcoin to our digital asset reserve." 

Furthermore, he added that the Treasury is working closely with legislators on both sides of the aisle and that this administration has already passed forward-thinking legislation with the GENIUS Act and the announcement last March that it will build a strategic Bitcoin reserve. 

In the end, he added that the seized Bitcoin will be kept in the reserve, just as planned by the administration's guidance and frameworks. 

Former Bank of England Analyst Says Markets Could Crash Because of Aliens (And That Bitcoin Might Soar) 👽

No, you didn’t read that wrong. This is a real story.

Helen McCaw, a former senior analyst in financial security at the Bank of England, is the main star of this news item. 

In a letter to Bank of England Governor Andrew Bailey, she wrote that UK banks need to prepare for alien disclosures. 

According to McCaw, the Bank of England should create contingency plans in the event that the White House confirms the existence of aliens. 

She further pointed to the US government's ongoing declassification of information concerning Unidentified Anomalous Phenomena (UAPs) as the reason for her urgent appeal.

The former analyst notes that the reveal of extraterrestrial life could trigger significant market volatility. This is particularly due to "the existence of a power or intelligence greater than any government and with potentially unknown intentions," which she believes would spark a lot of uncertainty.

McCaw has highlighted potential scenarios, including a rush towards traditional safe-haven assets like gold or government bonds. She also hinted at the possibility of these assets losing their status and value if space-faring technologies emerge.

She further elaborated that one scenario could also be a strong shift into Bitcoin, as it could be seen as a safe-haven asset due to the potential destruction of trust in traditional governmental power structures.

Who knows, maybe McCaw is right, and aliens will spark the next Bitcoin rally. 😆

Elsewhere in Bitcoin 📖

A quick look at what else has been happening in Bitcoin: 

• CFTC Chairman says "Congress is on the cusp of enacting the Digital Asset Market Clarity Act"

• Crypto Czar David Sacks is certain that regulatory clarity will enable banks to go all-in on crypto

• Bitcoin whales are catching up with long-term holders and accumulate very quickly

• The Netherlands want to tax unrealized capital gains on Bitcoin, stocks, and bonds

• Strategy bought 13,627 BTC in one week alone - Almost 4 times the amount of mined Bitcoin

Your fellow stacker in sats, 

Patrick Lowry

PS: Connect with me up on X if you want to hear more of my thoughts on Bitcoin and digital assets.

Disclaimer: The opinions expressed in this newsletter are solely those of the author and do not necessarily represent the views of any associated company. This newsletter is for educational and informational purposes only and should not be construed as investment, financial, or any other professional advice. Investing in cryptocurrencies is highly speculative and carries a significant risk of substantial financial loss, so you must conduct your own thorough research and consult with independent professional advisors before making any decisions.