Coinspeaker
US Government Holds $5.3 Billion in Seized Bitcoin
The United States government is among the largest Bitcoin (BTC) holders in the industry, with over 200,000 of the crypto assets stashed away in a hardware wallet controlled by the Department of Justice (DOJ), International Revenue Services (IRS), and other agencies in the country.
According to a public data analysis published by 21. co, the parent company of 21 Shares, the crypto assets obtained as a result of confiscation from illegal activities on the internet amount to approximately $5.3 billion. The company emphasized that these estimates represent the minimum amount as the government has previously offloaded some of its BTC stash in the past.
US Government Confiscates Bitcoin from Silk Road
The massive BTC holdings came from three recent seizures between 2020 to 2022. According to the available data, the government confiscated 69,369 BTC worth around $3.36 billion from the Silk Road after the crackdown on the darknet m
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