2024

Bitcoin

Silk Road

Million

<a href="https://bitcoinworld.co.in/cryptoquant-us-government-holds-210k-bitcoins-with-14-4b-unrealized-profit/" title="CryptoQuant: US Government Holds 210k Bitcoins With $14.4B Unrealized Profit" rel="nofollow"></a>
According to CryptoQuant, the US government holds nothing less than 210k Bitcoins with about $14.4B unrealized profit. 
The US government’s holdings of 210,392 BTC worth $14.4 billion make the country one of the largest holders of the coin. 
The head of CryptoQuant, Ki Young Ju, <a href="https://twitter.com/ki_young_ju/status/1768542634514194574">noted</a> that the U.S. Department of Justice, the Internal Revenue Service, and other departments have not sold a single Bitcoin (BTC) since July 2023. The government’s unrealized profits increased 2.4 times. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Fun Fact: US gov holds 210,392 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, with a 2.4x unrealized profit, and hasn't sold any <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> since July 2023. <a href="https://t.co/GIvQpL3j5Z">pic.twitter.com/GIvQpL3j5Z</a> 
 — Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1768542634514194574?ref_src=twsrc%5Etfw">March 15, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
At the same time, Arkham platform analysts have different data. They reported that the address, which allegedly belongs to the US authorities, stores 215,245 BTC, which amounts to about $14.8 billion at the time of writing. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/crypto-com-fined-3-1-million-for-non-compliance-in-the-netherlands/" aria-label="“Crypto.com Fined $3.1 Million for Non-Compliance in the Netherlands” (Edit)">Crypto.com Fined $3.1 Million for Non-Compliance in the Netherlands</a> 
In addition to Bitcoin, the wallet holds 50,147 Ethereum (ETH), 10.14 million USD Coin (USDC), 5.36 million Dai (DAI), and 2.27 million Tether (USDT). 
Some government wallets are public, and the crypto community is closely monitoring them, fearing the negative impact of a one-time sale of many coins on the global crypto market, whose total capitalization is estimated at more than $2.5 trillion. 
<figure id="attachment_68287" aria-describedby="caption-attachment-68287" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-68287" src="https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1-375x300.webp" alt="" width="465" height="372" srcset="https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1-375x300.webp 375w, https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1-625x500.webp 625w, https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1-750x600.webp 750w, https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1-768x614.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1-220x175.webp 220w, https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1.webp 1024w" sizes="(max-width: 465px) 100vw, 465px">
 <figcaption id="caption-attachment-68287" class="wp-caption-text">
 US Government Bitcoin Holding
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</figure> 
&nbsp; 
In March 2023, the U.S. transferred BTC confiscated from the Silk Road hacker to Coinbase. In April, the government sold another 9,861 BTC.&nbsp; 
Then, in January, government officials announced their intention to sell some of the cryptocurrency associated with the Silk Road case.&nbsp; 
The statement mentioned assets of 2,934 BTC. 
In February, the U.S. government transferred another 15,085 BTC seized after the hacked Bitfinex cryptocurrency exchange.&nbsp; 
The US government confiscated funds from the platform in 2016 after hacker Ilya Lichtenstein stole about $4.5 billion from Bitfinex. 
&nbsp; 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/cryptoquant-us-government-holds-210k-bitcoins-with-14-4b-unrealized-profit/">CryptoQuant: US Government Holds 210k Bitcoins With $14.4B Unrealized Profit</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

CryptoQuant: US Government Holds 210k Bitcoins With $14.4B Unrealized Profit

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