Topic: Bitcoins held by the US government - page 3. (Read 1114 times)

I Don't think so! Seized assets are usually sold in batches and it depends on the litigation attached to it. If the court has given a verdict then the government will try to sell the assets to recover the money. They are not HODLers so they won't pick a time based on the market movements.

Yes, it will bring an impact on us for sure who have been accumulating bitcoin to find a suitable time to sell. We may need to delay it further because the price is expected to drive downward due to this huge sell of. But that's it!

Recent Data

https://news.bitcoin.com/us-government-remains-a-top-bitcoin-holder-with-seized-stash-valued-at-5-6-billion/

US Government Remains a Top Bitcoin Holder With Seized Stash Valued at $5.6 Billion

"As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. The cache of bitcoins is a result of three forfeitures that began in 2020. Glassnode’s on-chain data reveals that on March 9, about 9,860 bitcoins worth roughly $269 million were sent to a Coinbase address.

Uncle Sam’s Crypto Stash: How the U.S. Government Became a Top Bitcoin Holder
The U.S. government currently holds 205,515 bitcoins valued at $5.66 billion based on today’s exchange rates. The bitcoins were confiscated in three cases, including the Silk Road bitcoin seizure in November 2020, the 2022 Bitfinex hack confiscation, and the seizure of bitcoins from James Zhong last year. Of the total, 69,369 BTC was seized from “Individual X,” 94,643 BTC was taken from Ilya Lichtenstein and his wife Heather Morgan, and 51,326 BTC was seized from Zhong in November 2022.

According to a report from Glassnode on March 9, 2023, some of these bitcoins have moved, reducing the total from 215,338 to 205,515 BTC. “Approximately [40,000 bitcoins] from wallets associated with U.S. Government law enforcement seizures are on the move,” Glassnode reported. “The majority of these appear to be internal transfers (so far). However, around 9,861 [bitcoin] seized from the Silk Road hacker have been sent to our Coinbase cluster.”"

Ask them to sign a message

They may not care about the Bitcoin market, but I'm pretty sure they care about the dollar amount they get.

Is the information published by the United States about the bitcoins it owns 100% accurate, or is there some exaggeration to create a state of fear in the market?

For example, I read in some places conflicting information about the quantities seized from the Silk Road (much less than what was reported).

Also I'm wondering why US sells bitcoin sources in batches? I mean, the US governments are not friends with Bitcoin and they don't care about the market crash if the quantities are sold all at once!!

From the news on twitter. I do not guarantee authenticity.

Arkham(C) analytics

The government has always sold on a schedule and everything else around it be damned.
They were auctioning off property late 2008 during the banking implosion since that was when it was scheduled for.

But, I didn't know they still had so much to do. I thought they had already sold a bunch.

Does anyone have a list of all the larger amounts of BTC that governments have seized over the years?

-Dave

https://www.binance.com/en/news/flash/7541996
https://twitter.com/ArkhamIntel
Arkham tweeted that the U.S. government currently holds more than $6 billion worth of bitcoin on-chain.
"The bitcoins they held were seized from three incidents:
69,370 bitcoins were seized from Silk Road in 2020;
94,640 bitcoins were seized from Bitfinex hackers in 2022, and Silk Road hacker James Zhong was seized in 2022.
There are 51,326 bitcoins (9,861 have been sold and 41,500 are left).
The U.S. government announced plans to sell these bitcoins in batches in 2023."
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They picked the wrong time