Posted 2/29/2024, 7:42:39 PM
U.S. Government's $12 Billion Bitcoin Stash Soars Alongside Cryptocurrency's Surge
- The U.S. government owns over 194,000 Bitcoin worth over $12 billion that has been seized from criminal enterprises like Silk Road and 2016 Bitfinex hackers
- The government's Bitcoin holdings have increased massively in value from $5 billion in September thanks to Bitcoin's price surge
- The U.S. government now holds about 1% of all Bitcoin in circulation, making it one of the largest BTC holders
- The government has sold some of the seized Bitcoin, like $117 million worth in January from a Silk Road trafficker
- Yesterday the government moved almost $1 billion in seized Bitfinex hacker Bitcoin to another wallet amid Bitcoin's 11% price climb