US government now holds $4 billion in Bitcoin, double Tesla’s stack | Finbold


For a few years, the US authorities has maintained a facet enterprise during which it auctions off Bitcoin (BTC) and different cryptocurrencies.

However, the most recent knowledge reveals that regardless of offloading quantity of the Bitcoin of which it had obtained via seizures, the federal government nonetheless owns $4.08 billion in BTC holdings as of February 2022, in keeping with knowledge shared by co-founders Negentropic of on-chain analytics platform Glassnode.

Apparently, the US authorities’s holdings are greater than twice that of each Ukraine, with $2.01 billion, and Tesla (NASDAQ: TSLA), with $1.86 billion. Tesla bought Bitcoin and included it on its steadiness sheets final 12 months, albeit it ceased taking Bitcoin as fee a short while afterward.

By way of Bitcoin holdings, the US authorities solely trails the Grayscale Bitcoin Belief, which leads the best way with $27.93 billion, and MicroStrategy, which has $5.43 billion.

US authorities now holds $4.08 billion in Bitcoin. Supply: Glassnode

US govt-confiscated crypto worth surpassed $1 billion in 2021

The quantity of cryptocurrency seized by the US authorities in 2021 alone surpassed $1 billion, representing an eightfold improve from the earlier 12 months.

Director of the Inside Income Service’s cybercrime unit, Jarod Koopman, stated in December:

“Within the fiscal 12 months 2019, we had about $700,000 price of crypto seizures. In 2020, it was as much as $137 million. And to this point in 2021 (as of August), we’re at $1.2 billion.”

The US Marshals Service, the first company answerable for auctioning off the federal government’s cryptocurrency property, as of December had seized and auctioned off greater than 185,000 Bitcoins, which had been estimated to be price round $8.6 billion on the time.

$3.5 Billion Bitfinex hackers caught 

Because the authorities has gathered extraordinary quantities of cryptocurrency lately, analysts consider that so long as cybercrime continues to develop at its current price, the US authorities’s crypto purse will proceed to develop.

Notably, Finbold reported on February 1 that Bitcoin price over $3.5 billion from the 2016 Bitfinex hack was ‘on the transfer,’ On January 31, on-chain observers started to see unusual exercise across the wallets holding the funds from the notorious hack.

Certainly, many observers discovered it peculiar that the funds had been being consolidated with none privacy-seeking motion, akin to mixing with using Monero or Twister Money. 

Following this, the US Justice Division (DOJ) announced on Tuesday, February 8, that the hacked BTC, now price $3.6 billion, had been recovered in its largest finance bust ever within the division’s historical past.

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