How much Bitcoin does the U.S. Government Hold?
Regulatory oversight over the crypto currency industry has been rising by the day. Amidst this, the government has been able to track down hacked or scammed funds over the years. So what happens to the illegal money found through these exploits? They are taken into custody and confiscated by the authorities. Thanks to this, the U.S. government is one of the biggest holders of Bitcoin [BTC]. Following multiple raids over the years, the government entails a significant amount of Bitcoin. Recent data from Glassnode shows that the U.S. owns a total of 205,514 BTC at the moment. This is worth over $6 billion at the king coin’s current price. Source Data shows that the U.S. government has increased its BTC holdings to around 1% of the total supply. This growth is attributed to three major cases that occurred over the years. The first seizure dates back to June 2020 when the Department of Justice [DOJ] seized 69,370 BTC. It was reportedly acquired from an unidentified dark web market a...