The United States holds more than 200,000 BTC, which translates to over 5 billion dollars. This is despite having previously sold thousands of BTC.
Although the United States had sold several thousand #Bitcoins in the past, its government currently owns over 200,000 #BTC valued at more than 5 billion dollars, making them one of the major holders of this cryptocurrency.
US Bitcoin Holdings Continue to Increase
According to data from 21.co, the current amount of Bitcoins held by the US stands at 194,188, with an estimated value of 5.3 billion USD. These figures, derived from publicly available sources, may only represent a minimum estimate. In reality, the actual number could be even higher.
The primary BTC reserves were acquired by the US government from the following operations:
- Confiscation of 69,369 BTC from the Silk Road market in November 2020.
- Acquisition of 94,643 BTC following the Bitfinex hack in January 2022.
- And 51,326 BTC related to the James Zhong case in March 2022.
Most of these Bitcoins are stored offline in encrypted devices, known as hardware wallets, managed by the Department of Justice and the Tax Office.
Confiscated Bitcoins and the US Government
It's important to note that even though the US holds these Bitcoins, they don't consider them as their property until a court decides otherwise. The US Marshals Service becomes the owner of these BTC only after a judicial decision confirms their confiscation.
Occasionally, the US sells some of its Bitcoins through an auction system based on court orders. The largest auction took place in 2014, when billionaire Tim Draper bought 30,000 BTC from the US at a very favorable price.
Recently, however, the US government has been turning to cryptocurrency exchanges to sell confiscated BTC. For instance, in March of this year, the government sold 9,118 BTC via the Coinbase exchange.
Notice:
Information and viewpoints presented in this text are purely informational and should never be taken as investment recommendations in any situation. Do not attribute any value to the content here as financial, investment, or any other type of advice. Keep in mind that investing in cryptocurrencies can be associated with the risk of loss.