Bitcoin

The United States government reportedly has Bitcoins worth $5 billion, according to a recent story in <a href="https://www.wsj.com/finance/currencies/federal-government-bitcoin-5-billion-78ce0938" rel="noopener noreferrer nofollow">The Wall Street Journal</a>. This makes one of the world&#39;s top Bitcoin investors.In 2022, it was estimated that the US government held Bitcoin (BTC) worth more than US$4.4 billion, although this number has since increased.The acquisition of Bitcoin by the United States government typically takes the form of confiscation operations or the interruption of illegal financial dealings that involve the use of Bitcoin as currency.According to information obtained from 21.co on Dune Analytics, the United States government has been in possession of at least 215 thousand BTC since 2020, which places it among the largest BTC whales.Examples of this include the hacking attack on Bitfinex, which was resolved after nearly six years and resulted in the Department of Justice seizing 96,643 Bitcoins.The authorities was able to seize 69,369 BTC after Silk Road was shut down in 2013. Moreover, additional operations involving cybercriminal persons and organizations, such as the case of James Zhong and the confiscation of BTC worth 51,326 BTC.<h3 id="bitcoin-is-being-auctioned-off-by-the-us-government">Bitcoin Is Being Auctioned Off By The Us Government</h3>The US government&#39;s Bitcoin (BTC) is stored offline in cold wallets managed by agencies such as the Department of Justice and the Internal Revenue Service (IRS).It is well known that the US government will not be hasty in liquidating BTC assets, as this involves a lengthy investigation and legal process before it can be liquidated.When the permit to liquidate assets is issued, the US Marshals Service is in charge of liquidating the assets. To avoid market turmoil, auction sales can be used to determine a fair price while avoiding liquidating huge amounts of assets at once. However, in March 2023, the US government sold 9,861 BTC via Coinbase.#bitcoin

Bitcoin Owned By The Us Government Is Now Worth $5 Billion, According To A New Report

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