The US government's holding of 210,392 BTC worth $14.4 billion makes the country one of the largest holders of the coin.
CryptoQuant head Ki Young Ju noted that the US Department of Justice, Internal Revenue Service and other departments have not sold a single Bitcoin (BTC) since July 2023. The government's unrealized profits increased 2.4 times.
At the same time, Arkham platform analysts have different data. They reported that the address, which supposedly belongs to the US authorities, stores 215,245 BTC, which is equivalent to about $14.8 billion at the time of writing.
Source: Arkham
In addition to Bitcoin, the wallet contains 50,147 Ethereum (ETH), 10.14 million USD Coin (USDC), 5.36 million Dai (DAI) and 2.27 million Tether (USDT).
Some government wallets are public and the crypto community is watching them closely, fearing the negative impact of a one-time sale of many coins on the global crypto market, whose total capitalization is estimated at more than $2.5 trillion.
In March 2023, the US transferred BTC seized from the Silk Road hacker to Coinbase. In April, the government sold another 9,861 BTC. Then, in January, government officials announced their intention to sell some of the cryptocurrency related to the Silk Road case. The statement mentioned assets of 2,934 BTC.
In February, the US government transferred an additional 15,085 BTC seized following the hacking of cryptocurrency exchange Bitfinex. The US government seized funds from the platform in 2016 after hacker Ilya Lichtenstein stole around $4.5 billion from Bitfinex.
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