According to #CryptoQuant analysts, the US government owns 210,392 BTC (worth $14.42 billion), which puts it among the largest holders of bitcoin.
Experts believe that organizations such as the U.S. Department of Justice, the Internal Revenue Service and other government agencies refrained from selling after July 2023. During that time, the government's unrealized gains grew 2.4 times.
Fun Fact: US gov holds 210,392 $BTC, with a 2.4x unrealized profit, and hasn't sold any #Bitcoin since July 2023. pic.twitter.com/GIvQpL3j5Z
— Ki Young Ju (@ki_young_ju) March 15, 2024
Previously, analysts at #Arkham identified an address believed to belong to the US authorities that held 215,245 BTC (equivalent to approximately $14.91 billion in current valuation).
In addition to bitcoins, the digital wallet also holds 50,147 ETH, 10.14 million USDC, 5.36 million DAI and 2.27 million USDT.
It's worth noting that in March 2023, the #US government transferred bitcoins confiscated from #Silk Road hackers to #Coinbase. Subsequently, in April, the government withdrew another 9,861 BTC.
By January 2024, government officials announced plans to sell some of the cryptocurrency associated with the darknet case: total assets amounted to 2,934 BTC.
According to the latest reports, in February, the US government handed over another 15,085 BTC seized after the #Bitfinex cryptocurrency exchange was hacked.
In addition, Arkham Intelligence experts found addresses linked to the #British government that held a total of 61,245 BTC.
