In recent years, Bitcoin has become increasingly important to governments and financial institutions around the world. With its decentralized nature and growing popularity, many countries have begun to take notice and learn ways to manage and control this digital currency. In the United States, the government has approached Bitcoin in a very unique way, not only managing it but also confiscating and holding huge amounts.
According to recent statistics compiled by Dune Analytics, the US government currently holds 205,515 Bitcoins, which are worth around $5.7 billion at current value and represent 1.06% of BTC circulating supply. . This is a staggering number, causing people to question how the US government got so many Bitcoins.
Citing data from Dune Analytics, Blocktempo reported that since 2020, the US government has seized more than 215,000 BTC in at least three separate incidents. The largest of these was the seizure of 69,369 BTC from the infamous Silk Road market in November 2020. This was followed by the seizure of 94,643 BTC from Bitfinex hacker in January 2022 and the recent 51,326 BTC from James Zhong. in March 2022.
The amount of BTC held by the US government is definitely larger than that of other Bitcoin whales. Currently, the US government is second only to Satoshi Nakamoto with 1.1 million BTC and around 248,597 in cold wallets labeled as Binance Exchange.
This is a lot larger than MicroStrategy, which holds the most Bitcoins of any other US publicly traded company, with around 138,955 BTC. Clearly, knowingly or unknowingly, the US government has become a VIP member of the Bitcoin market.
The US government’s stance on Bitcoin has changed in recent years. While they have taken steps to regulate monetary policy and crack down on illegal activities, they have also recognized the potential of Bitcoin and other cryptocurrencies. In fact, the Federal Reserve has been exploring the potential of a central bank digital currency (CBDC) for some time now, and many experts believe that the United States could eventually issue its own digital currency. own digital.
Regardless of the US government’s stance on Bitcoin, it is clear that they have become an important player in the Bitcoin market. Owning 205,000 BTC, worth billions of dollars, the US government cannot be underestimated on the Bitcoin “race”. As the cryptocurrency market continues to grow and mature, the evolution of the US government in the cryptocurrency market should be highly anticipated.