Cryptocurrencies held by US authorities
Happycoin.club - Economist Peter Schiff estimates that the US government will sell 183,439 bitcoins worth $12.2 billion at current rates.
On July 27, Donald spoke at a bitcoin conference and announced that he was going to create a “strategic national supply of bitcoins” if he became president again. At the moment, the crypto wallet of the American authorities contains coins worth $12.2 billion, which could form the basis of this strategic reserve. However, Peter believes that Trump will have to build reserves from scratch.
If Trump really wanted to transfer the confiscated bitcoins to a “strategic” reserve, he would not announce his intention until after he took office. Now that Biden administration officials know his plan, they will try to get rid of every Satoshi before Trump enters the Oval Office,” Schiff wrote.
Peter's point of view is confirmed in practice. On July 29, the government withdrew 29,800 bitcoins worth $2 billion from crypto storage. In addition, a week ago, officials withdrew almost $4 billion of BTC from the Coinbase (NASDAQ:COIN) exchange, apparently to sell the coins.
Last month, the government got rid of $981.4 million worth of cryptocurrency. If things continue like this, then by the time Trump is inaugurated, there may be no digital assets left in the US government’s crypto wallet.