In accordance with latest information, as of March 25, 2023, the U.S. authorities at present holds 205,515 Bitcoins price $5.6 billion, or 1.06% of the circulating provide.
These bitcoins have been seized in three high-profile instances, together with the Silk Highway bitcoin seizure in November 2020, the Bitfinex hack seizure in 2022, and James Zhong’s bitcoin seizure final yr.
Amongst them, in November 2022, 69,369 bitcoins have been confiscated from “Private X”, 94,643 bitcoins have been confiscated from Ilya Lichtenstein and his spouse Heather Morgan, and 51,326 bitcoins have been confiscated by Zhong .
In accordance with a report by Glassnode on March 9, 2023, a few of these bitcoins have been transferred, decreasing the overall from 215,338 to 205,515. This means that the U.S. authorities might have begun liquidating a few of its Bitcoin holdings, but it surely has not been confirmed whether or not that is the case.
The U.S. authorities’s bitcoin holdings have drawn consideration from each the crypto trade and conventional finance. Whereas some see this as a optimistic signal for bitcoin’s mainstream adoption, others have raised considerations about potential authorities management over the cryptocurrency market.
Specialists counsel that bitcoin held by the U.S. authorities could possibly be used for numerous functions, corresponding to funding authorities initiatives or paying off money owed. Nonetheless, the dearth of transparency over the federal government’s administration of bitcoin has raised questions concerning the potential dangers and advantages of the transfer.
Whatever the authorities’s intentions, information of its Bitcoin holdings underscores the rising significance of cryptocurrencies in right now’s monetary panorama and the necessity for regulatory readability and oversight within the crypto house.
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