US Treasury Secretary Scott Bessent said Friday at the 2026 Reagan National Economic Forum that the United States has seized approximately $1 billion in cryptocurrency assets from Iran, nearly double the government's previous estimate. Bessent stated the US believes Iran had been stealing about $400 to $500 million monthly through sanctions evasion, calling it "money that's been stolen from the Iranian people." The announcement reflects the US government's ongoing strategy to build its digital asset reserve through confiscated crypto rather than direct purchases, a policy Bessent has reaffirmed multiple times.
US Treasury Describes Direct Wallet Seizure Method
Speaking to Fox News' Larry Kudlow, Bessent said: "I believe that we have seized about a billion dollars of their crypto. Just outright grabbed the wallets. Some of them may be typing in right now and might not realize that their wallet has been grabbed." Bessent also stated the US is "freezing bank accounts everywhere" and "making people less willing to deal with the regime."
US Government Holds 328,372 BTC in Strategic Reserve
The US government holds approximately 328,372 BTC, according to Arkham, making it the largest known state holder of Bitcoin in the world. At current prices, that's worth just over $24 billion. The price of bitcoin is trading around $73,500, according to The Block's data. In August 2025, Bessent said the US government would not be buying bitcoin for its strategic reserve but would continue to use confiscated assets to build it up. He reaffirmed that position in January, stating: "The policy of this government is to add seized bitcoin to our digital asset reserve after the damages are done. So the bitcoin reserve, our view, was first you have to stop selling, which we have done, and then we can add the assets and asset forfeitures."
Bessent Previously Announced $500 Million Seizure on April 29
On April 29, Bessent said the US had seized "nearly $500 million" in Iranian crypto assets. At that time, he stated: "We are freezing bank accounts everywhere. More importantly, we are making people less willing to deal with the regime."
FAQ
What did Treasury Secretary Bessent announce about Iranian crypto seizures?
Bessent said Friday at the 2026 Reagan National Economic Forum that the US has seized approximately $1 billion in cryptocurrency assets from Iran, nearly double the previous estimate of $500 million announced on April 29.
How much bitcoin does the US government currently hold?
The US government holds approximately 328,372 BTC, worth just over $24 billion at current prices around $73,500, making it the largest known state holder of Bitcoin in the world according to Arkham data.
