2024

Bitcoin

Silk Road

Million

<a href="https://bitcoinworld.co.in/cryptoquant-us-government-holds-210k-bitcoins-with-14-4b-unrealized-profit/" rel="noopener noreferrer 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 $14.4 billion make the country one of the largest holders of the coin.The head of CryptoQuant, Ki Young Ju, <a href="https://twitter.com/ki_young_ju/status/1768542634514194574" rel="noopener noreferrer nofollow">noted</a> that the U.S. Department of Justice, the Internal Revenue Service, and other departments have not sold a single Bitcoin (BTC) since July 2023. The government’s unrealized profits increased 2.4 times.<blockquote class="twitter-tweet">Fun Fact: US gov holds 210,392 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$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" rel="noopener noreferrer nofollow">#Bitcoin</a> since July 2023. <a href="https://t.co/GIvQpL3j5Z" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer nofollow">March 15, 2024</a></blockquote>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/" rel="noopener noreferrer nofollow">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" class="wp-caption aligncenter"><img class=" wp-image-68287" src="https://bitcoinworld.co.in/wp-content/uploads/US-Government-Bitcoin-Holding-1-375x300.webp" alt="" width="465" height="372"><figcaption id="caption-attachment-68287" class="wp-caption-text"> US Government Bitcoin Holding </figcaption></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 #WRITE2EARNThe post <a href="https://bitcoinworld.co.in/cryptoquant-us-government-holds-210k-bitcoins-with-14-4b-unrealized-profit/" rel="noopener noreferrer nofollow">CryptoQuant: US Government Holds 210k Bitcoins With $14.4B Unrealized Profit</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

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

ItsBitcoinWorld

Other articles published on Mar 17, 2024

Arbitrum Prepares For Massive Token Unlock; PEPE Gains Advantage Amid DOGE’s Dip; Investors Move ...

XRP’s price down by 17.5%- What’s this week’s prediction?

Vanguard CEO Remains Against Bitcoin Despite Price Surge

Can Warehouse Robots Adapt to the Unforeseen with AI-Powered Software?

Dogecoin Bulls Unleashed as DOGE Breaks 640-Day Accumulation Period, Analyst Unveils Potential Ta...

US Senators Urge Gensler To Halt Crypto ETF Approval, Citing “Enormous Risks”

Join our free newsletter for daily crypto updates!