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The United States government has emerged as one of the largest Bitcoin holders, possessing over 200,000 BTC valued at more than $5 billion. This figure, estimated at $5 billion, is based on several significant seizures related to the Bitfinex hack and the Silk Road, indicating that the actual holdings might be even more substantial.As per an analysis conducted using publicly available data, cryptocurrency firm 21.co approximated that the U.S. government still maintains 194,188 BTC, which is currently valued at approximately $5.3 billion. It&#39;s essential to note that these estimations represent the minimum amount of Bitcoin held by the U.S. government, based on information available to the public. This analysis traced the movement of Bitcoin in U.S. government wallets associated with the three most substantial BTC seizures since 2020, including the Silk Road seizure of 69,369 BTC in November 2020, the Bitfinex Hack seizure of 94,643 BTC in January 2022, and the James Zhong seizure of 51,326 BTC in March 2022.These Bitcoins are primarily stored offline in secure hardware wallets, safeguarded by the Justice Department and the Internal Revenue Service. Notably, the U.S. government conducted two significant seizures in 2022. It&#39;s important to clarify that seized assets do not immediately become the property of the government. The U.S. Marshals Service, responsible for selling seized assets, only gains possession of the confiscated Bitcoin after a court issues a final forfeiture judgment.In recent times, the U.S. government has opted to sell some of the seized Bitcoin through cryptocurrency exchanges rather than traditional public auctions. One such instance occurred in March of the current year when the government sold 9,118 BTC through Coinbase, as confirmed by public filings. Previously, in 2014, a significant government auction saw billionaire Tim Draper purchasing 30,000 BTC from U.S. government auctions. That concludes today’s WedNewsDay, we hope you all had fun reading it! Keep an eye out for WedNewsDay the following week and don’t forget to follow us on social media. Thank you!Follow us onWebsite | <a href="https://werentnft.io/" rel="noopener noreferrer nofollow">https://werentnft.io/</a>Instagram | <a href="https://www.instagram.com/werent_nft/" rel="noopener noreferrer nofollow">https://www.instagram.com/werent_nft/</a>Twitter |<a href="https://twitter.com/WebuyOfficial" rel="noopener noreferrer nofollow"> </a><a href="https://twitter.com/WerentOfficial" rel="noopener noreferrer nofollow">https://twitter.com/WerentOfficial</a>Medium |<a href="https://medium.com/&#64;webuynft" rel="noopener noreferrer nofollow"> </a><a href="https://medium.com/&#64;werentnft" rel="noopener noreferrer nofollow">https://medium.com/&#64;werentnft</a>Facebook | <a href="https://www.facebook.com/werentnft" rel="noopener noreferrer nofollow">https://www.facebook.com/werentnft</a>Youtube | <a href="https://www.youtube.com/&#64;WeRentNFT" rel="noopener noreferrer nofollow">https://www.youtube.com/&#64;WeRentNFT</a>

WedNewsDay! US government among largest Bitcoin hodlers with over $5B in BTC!

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