🔥🔥🔥 $17.8 Billion Bitcoin Is Still Sitting in These Government #wallets : #ARKHAM

Governments' Significant Bitcoin Holdings: Arkham's Analysis

According to Arkham, several governments collectively hold around $17.8 billion in #bitcoin☀️ , including the United States, United Kingdom, Germany, and #ElSalvador .

United States: $12 Billion in Bitcoin Reserves

- The U.S. government holds the largest share, approximately $12 billion, mostly seized from criminal cases like the 2013 Silk Road bust. Historically, the U.S. has auctioned seized Bitcoin through the U.S. Marshals Service, but recent trends indicate a shift towards over-the-counter (OTC) sales. Future sales plans are usually undisclosed to avoid market manipulation.

United Kingdom: $3.3 Billion Bitcoin Holdings

- The UK government holds about $3.3 billion in Bitcoin, mainly from law enforcement seizures. In 2021, the Metropolitan Police seized £180 million ($250 million) in cryptocurrency related to money laundering. The UK has auctioned seized cryptocurrency through HM Revenue and Customs (HMRC), but details on future sales remain unclear.

Germany: $2.2 Billion in Bitcoin Reserves

- Germany's holdings are valued at around $2.2 billion. In February 2024, Germany announced plans to sell €1 billion ($1.08 billion) worth of seized cryptocurrency via gradual OTC trades to minimize market impact. This is one of the largest government liquidations of cryptocurrency.

El Salvador: $314 Million in Bitcoin Treasury

- El Salvador's $314 million in Bitcoin comes from direct purchases and mining, as the country adopted Bitcoin as legal tender in 2021 under President #NayibBukele . This treasury represents a strategic investment rather than seized assets, with Bukele periodically announcing new purchases.

Implications for the Crypto Market

- Governments' strategies for holding and liquidating large Bitcoin amounts significantly impact cryptocurrency markets and regulatory frameworks worldwide. Their decisions will be closely watched by market participants.

Source - decrypt.co