US government holds 210k Bitcoins with $14.4b unrealized profit

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The U.S. authorities’s holdings of 210,392 BTC price $14.4 billion make the nation one of many largest holders of the coin.

The top of CryptoQuant, Ki Younger Ju, famous that the U.S. Division of Justice, the Inner Income Service, and different departments haven’t offered a single Bitcoin (BTC) since July 2023. The federal government’s unrealized income elevated 2.4 occasions.

On the similar time, Arkham platform analysts have totally different information. They reported that the tackle, which allegedly belongs to the U.S. authorities, shops 215,245 BTC, which quantities to about $14.8 billion on the time of writing.

CryptoQuant: US government holds 210k Bitcoins with $14.4b unrealized profit - 1
Supply: Arkham

Along with Bitcoin, the pockets holds 50,147 Ethereum (ETH), 10.14 million USD Coin (USDC), 5.36 million Dai (DAI), and a pair of.27 million Tether (USDT).

Some authorities wallets are public, and the crypto group is carefully monitoring them, fearing the detrimental impression of a one-time sale of many cash on the worldwide crypto market, whose whole capitalization is estimated at greater than $2.5 trillion.

In March 2023, the U.S. transferred BTC confiscated from the Silk Street hacker to Coinbase. In April, the federal government offered one other 9,861 BTC. Then, in January, authorities officers announced their intention to promote a number of the cryptocurrency related to the Silk Street case. The assertion talked about belongings of two,934 BTC.

In February, the U.S. authorities transferred one other 15,085 BTC seized after the hacked Bitfinex cryptocurrency trade. The U.S. authorities confiscated funds from the platform in 2016 after hacker Ilya Lichtenstein stole about $4.5 billion from Bitfinex.

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