The US is Unquestionably one of the World's Biggest Bitcoin Holders
Hey folks.
Well, it's not only the Bitcoin investors who are benefitting from the recent Bitcoin bull run but thanks to Bitcoin's ongoing rally, the government of the United States now owns $12 billion Bitcoin fortune.
The United States has seized tens of thousands of Bitcoin from multiple criminal enterprises in the last decade. Most notably the dark web marketplace Silk Road and hackers who stole billions of dollars worth of digital assets from the cryptocurrency exchange Bitfinex in the year 2016.
The government of the United States now possesses over 194,000 Bitcoin according to on-chain wallet data.
That amount has increased dramatically since the fall, when the price of Bitcoin started to rise. The United States government holding Bitcoin were worth some $5 billion in September. But now the value of the same quantity of Bitcoin has soared up to around $12 billion, thanks to the phenomenal comeback by Bitcoin.
Yes, you read it right. In a matter of months without lifting a finger, the government of the United States has reaped over $7 billion in profit. Even though the US government's attitude toward Bitcoin and cryptocurrencies in general is currently tense, the US is unquestionably one of the world's biggest Bitcoin holders.
The government of the United States currently holds about 1% of all Bitcoins that are in circulation currently. It seems that only cryptocurrency exchange Binance and the anonymous creator of Bitcoin, Satoshi Nakamoto, possess more.
However, it is unclear whether the officials of the United States who are in charge of the government's crypto holdings are attempting to maximize the value of the stash by selling off at strategically opportune moments.
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