Quick Take
The US Government reportedly holds a significant amount of Bitcoin (BTC), currently valued at over $9 billion, primarily in seized assets from events like the 2016 Bitfinex Hack and the 2012 Silk Road Hack. The value of this balance has experienced fluctuations in tandem with Bitcoin’s price volatility, reaching around $9.3 billion when Bitcoin was at its peak but now back over $9 billion as of Dec. 19.
Throughout 2023, this balance has seen reductions due to two significant sell-offs. Approximately 10,000 BTC was sold off just before an unforeseen banking collapse in March. Another substantial sell-off occurred in July when Bitcoin’s value peaked at $30,000, further reducing the balance by 10,000 BTC. These sell-offs indicate a strategic move by the US Government to liquidate assets during periods of high volatility.
The post Bitcoin in Uncle Sam’s wallet: US balance is worth more than $9B appeared first on CryptoSlate.
