In March of this year, The United States government had in its possession more than 200,000 BTC for seizures, which is currently equivalent to US$5.5 billion.
It is so Joe Biden’s administration is included in the list of top BTC holders as Michael Saylor’s company MicroStrategy and the mysterious creator of the cryptocurrency, Satoshi Nakamoto.
According to information from Dune Analytics, the US government currently holds 205,515 BTC worth approximately $5.5 billion.
This possession comes from three seizures carried out by the Government since 2020represents 1.1% of the circulating supply of Bitcoin.
The three seizures were as follows: 70,000 BTC linked to the illicit drug marketSilk Road, in 2020, $3.6 billion in Bitcoin connected to 2016 Bitfinex hackand 50,676 bitcoins, valued today at more than $1 billion, which were seized from James Zhong in a case also related to Silk Road.
In March, Blockchain analytics firm Glassnode revealed that nearly 40,000 BTC associated with government wallets were on the move, with more than 9,000 of them sent to Coinbasewhich is presumed could be a possible sale.
Besides the United States, the Bulgarian government also became a Bitcoin whale. The European country of Bulgaria holds 213,000 BTC, which were seized by local authorities from a criminal group in 2017.
The term “whale” refers to the large holders of a digital asset capable of influencing the market. In the case of Bitcoin, it usually refers to the addresses of wallets, users or entities with more than 1,000 BTC.
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.