For readers' reference.
Government holdings and sales
German Government - 45,000
Previously held 50,000
As of press time, BTC has sold about 4,736 in batches in June, and currently has 45,000.
On June 26, 200 BTC were transferred to each exchange; on June 26, 700 BTC were transferred to Coinbase, Kraken and Bitstamp.
On the 27th, 145 BTC were transferred back to the on-chain address again.
U.S. Government - 210,000
Compared to other countries, the US government holds the largest amount of Bitcoin and is relatively cautious in handling it.
Between November 2020 and 2022, U.S. authorities seized a total of more than 210,000 Bitcoins in three separate operations, which were linked to the dark web market Silk Road, the Silk Road hackers, and the
Jimmy Zhong is also involved in the hack of the crypto exchange Bitfinex. Related reading: "Bitcoin Dark Web Heist: Uncovering the Double Life of Jimmy Zhong".
The U.S. government has a long history of selling Bitcoin. However, the U.S. government has not sold Bitcoin since July 2023 to March 2024. On-chain records show that the most recent sale was 4,000 BTC sent from a U.S. government address to Coinbase Prime on June 27.
As of press time, the U.S. government still holds 213,546 BTC.
UK Government – 61,000
The Bitcoin held by the British government mainly comes from the famous "Blue Sky Grey" case. According to data, the British government holds about 61,000 BTC, and as of press time, no transfer has been made. Related reading: "The world's largest money laundering case: more than 61,000 Bitcoins were seized, and the mastermind behind the scenes is still on the run with $6.3 billion"
Chinese government - 194,000
The Chinese government's BTC holdings originated from the famous PlusToken pyramid scheme in 2020, when the amount of Bitcoin seized was approximately 194,000. However, no on-chain address markers were found, so it is difficult for us to confirm whether there are any sales records.
The "whales" of national governments cannot be ignored. However, according to data, the largest single sale of Bitcoin in the United States was in March 2023, when 9,861 Bitcoins were sold for $216 million. If the government sells Bitcoin in small quantities and multiple times each time, the impact on market sentiment and currency prices will be smaller.
Mt.Gox—140,000
In addition to the above-mentioned government holdings of coins being a major hidden danger in the market, the Mt.Gox exchange, which went bankrupt ten years ago, has also made it clear that it will start repaying BTC and BCH. According to data disclosed by Mt.Gox, its address holds a total of 141,685 BTC, which will be used for compensation and repayment.
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On the 28th of the month, the Mt. Gox account address transferred out 10 transactions in a row, totaling 141,685 bitcoins. This is Mt. Gox
The first action of Mt.Gox’s cold wallet in five years has attracted great attention from the community. According to the latest email notification from Nobuaki Kobayashi, repayment will begin in July 2024.
The first repayment in the form of BTC and BCH means that Mt. Gox’s 141,686 BTC (and a roughly equal number of
BCH) will begin to flow into the market. These BTC account for 0.72% of the total circulating supply of Bitcoin, worth approximately $8.54 billion.
Previously, BlockBeats interviewed Mindao, one of the creditors of Mt.Gox, about the situation. He said, "Because most creditors have sold their money to those funds, this part of the selling pressure has been hedged long ago. And those of us who have held on to the end will definitely not sell it at this time." Related reading: "140,000 Bitcoins were transferred in 6 hours. Will Mt.Gox's compensation trigger a large selling pressure?", "Mt.Gox token repayment will start in July. These things need to be understood in advance"
On June 24, Alex Thorn, head of research at Galaxy, wrote on the X platform that the number of tokens ultimately distributed in the Mt. Gox bankruptcy case will be less than people imagine, and the Bitcoin selling pressure caused by Mt. Gox will be less than expected.
BTC holdings of other institutions and organizations
In addition to the government, such as Tesla, MicroStrategy
After the BTC ETF spot was approved, companies such as BlackRock and Fidelity opened BTC ETFs.
Companies that invest in funds have also joined the ranks of Bitcoin holders. Since there have been many related statistical articles before, I will not repeat the above-mentioned companies' holdings and address tracking methods in this article. For related reading, please see: "Unveiling the Top Bitcoin Holders: Global Wallet Address Analysis and Holdings"
The second half of the year is still optimistic, patiently waiting for the release of positive news
The market experienced a sharp decline in June, which had a certain impact on investor confidence, but the long-term outlook for cryptocurrencies remains optimistic. The long-awaited ETH ETF
The interest rate cut is coming soon; the positive effects of the interest rate cut have not yet been implemented; presidential candidates Trump and Biden have successively announced that they will accept political donations in the form of cryptocurrencies, showing goodwill to the cryptocurrency market. All signs indicate that with the changes in the global economy, cryptocurrencies have already occupied a place in emerging economies. The second half of 2024 is even more worth looking forward to. Related reading: "Crypto Market Outlook for the Second Half of the Year: Multiple Positive Effects Such as the General Election and Interest Rate Cuts Have Not Yet Been Released, and a New Era May Come After the Changes".
The bull market is far from over, please be patient and wait for the market to repair.
Appendix: The on-chain tracking URL for the above-mentioned huge BTC holding address
Mt.Gox holding address: https://platform.arkhamintelligence.com/explorer/entity/mt-gox
US government holding address: https://platform.arkhamintelligence.com/explorer/entity/usg
German government holdings address: https://platform.arkhamintelligence.com/explorer/entity/germany
