Satoshi

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 The second-biggest BTC "investor" in the world after Satoshi Nakamoto is staring down ten-figure losses.
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<div class="cointelegraph">
 <p>Bitcoin (BTC) worth over $7.2 billion is still controlled by the United States government — but its losses are mounting.</p>
 <p>Data from on-chain analytics firm Glassnode shows that Washington’s seized bitcoins <a rel="noopener noreferrer nofollow" title="total" href="https://thebittimes.com/tag/total.html">total</a> 210,429 BTC as of Oct. 31.</p>
 <h2 id="195-000-btc-sold-6-3-billion-down">195,000 BTC sold, $6.3 billion down</h2>
 <p>The U.S. Department of Justice (DoJ) and Internal Revenue Service (IRS) are well known — perhaps accidentally — as being one of the world’s largest Bitcoin whales.</p>
 <p>Through various legal proceedings, lawmakers have confiscated vast amounts of BTC over the years, and only a small percentage of its takings have been resold at auction.</p>
 <p>Those who opted to buy the proceeds have profited considerably, and adding to the irony, the DoJ — more like a Bitcoin newbie than a whale — has been guilty of selling too soon.</p>
 <p>According to statistics compiled by Jameson Lopp, co-founder of Bitcoin custody firm Casa, the government has so far <a rel="noopener noreferrer nofollow" title="missed" href="https://thebittimes.com/tag/missed.html">missed</a> out on a grand <a rel="noopener noreferrer nofollow" title="total" href="https://thebittimes.com/tag/total.html">total</a> of $6,323,203,004 in potential <a rel="noopener noreferrer nofollow" title="gains" href="https://thebittimes.com/tag/gains.html">gains</a> from its 195,092 BTC sell-off.</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/31/37e3d0b5648762caf7dcb6ef5c6b5f8f.webp">
  <figcaption style="text-align: center;"><em>Largest national and corporate Bitcoin holdings (screenshot). Source: Bitcoin Treasuries</em>
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 <p>No single entity other than Satoshi Nakamoto owns more BTC than the DoJ. The largest corporate BTC treasury, for example, owned by MicroStrategy, currently consists of 158,245 BTC ($5.43 billion), per data from monitoring resource Bitcoin Treasuries.</p>
 <h2 id="heavy-bitcoin-bag">Heavy Bitcoin bag</h2>
 <p>Glassnode shows the DoJ stash growing in step with announcements of confiscations.</p>
 <p><strong><em>Related:&nbsp;There are now nearly 40M Bitcoin addresses in profit — A new record</em></strong></p>
 <p>In early 2022, its inventory increased by nearly 100,000 BTC — at the time worth $3.6 billion — thanks to legal action a<a rel="noopener noreferrer nofollow" title="gains" href="https://thebittimes.com/tag/gains.html">gains</a>t individuals accused of attempting to launder the proceeds of a 2016 hack of major crypto exchange Bitfinex.</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/31/6174250b8487b17fde4b6f97ab5a7120.webp">
  <figcaption style="text-align: center;"><em>U.S. government BTC balance chart. Source: Glassnode</em>
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 <p>Meanwhile, billionaire Tim Draper, one of the original BTC auction bidders, recently accused the U.S. government of suppressing crypto growth.</p>
 <p>Having previously predicted a $250,000 BTC price tag for 2022, Draper subsequently claimed that policy failures were “killing the golden goose of Silicon Valley.”</p>
 <p>“Regulations smother innovators,” part of an X post from May reads.</p>
 <p class="post-content__disclaimer">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sodl-too-soon-us-gov-t-missed-bitcoin-gains-now-total-6b-tbt68549.html">https://thebittimes.com/sodl-too-soon-us-gov-t-missed-bitcoin-gains-now-total-6b-tbt68549.html</a></p>

'Sodl' too soon: US gov't missed Bitcoin gains now total $6B

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