1 year ago
The $5 cardinal estimation is based connected 3 large seizures linked to the Bitfinex hack and Silk Road, meaning the existent holdings could beryllium overmuch larger.
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The United States authorities has go 1 of the largest Bitcoin holders with implicit 200,000 BTC worthy much than $5 cardinal contempt selling a fewer 1000 BTC worthy millions earlier this year.
According to a information investigation based connected nationalist filings, crypto steadfast 21.co estimated that the U.S. authorities inactive holds 194,188 BTC, estimated to beryllium worthy $5.3 billion. The steadfast successful its investigation noted that these are “lower-bound estimations of the U.S. authorities holdings based connected publically disposable information.”
US authorities Bitcoin holdings. Source: DuneThe investigation tracked the Bitcoin question of the U.S. authorities wallets associated with the 3 largest BTC seizures since 2020, namely the Silk Road seizure of 69,369 BTC in Nov. 2020, the Bitfinex Hack seizure of 94,643 BTC successful January 2022, and the James Zhong seizure of 51,326 BTC successful March 2022.
Key Bitcoin seizures by US government. Source: DuneThe authorities Bitcoin stash is kept chiefly offline successful encrypted, retention devices known arsenic hardware wallets kept nether the Justice Department and the Internal Revenue Service. The U.S. authorities made 2 important seizures successful 2022.
Related: US authorities plans to merchantability 41K Bitcoin connected to Silk Road
Seized assets bash not instantly beryllium to the government. The U.S. Marshals Service, the main bureau charged with selling seized property, lone receives possession of the seized Bitcoins aft a tribunal issues a definitive forfeiture judgment.
The U.S. authorities besides sells a information of the seized Bitcoin from clip to clip done an auction strategy based connected the tribunal liquidation orders. The astir notable authorities auction dates backmost to 2014 erstwhile billionaire Tim Draper bought 30,000 BTC from U.S. authorities auctions successful 2014.
However, successful caller years, the U.S. authorities has turned to crypto exchanges to merchantability seized Bitcoins implicit nationalist auctions. One specified merchantability came successful March earlier this twelvemonth erstwhile the authorities sold 9,118 BTC connected Coinbase, confirmed done a nationalist filing.
Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.
Magazine: US enforcement agencies are turning up the vigor connected crypto-related crime
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