US government holds 210k Bitcoins with $14.4b unrealized profit

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The U.S. authorities’s holdings of 210,392 BTC value $14.4 billion make the nation one of many largest holders of the coin.

The pinnacle of CryptoQuant, Ki Younger Ju, famous that the U.S. Division of Justice, the Inside Income Service, and different departments haven’t offered a single Bitcoin (BTC) since July 2023. The federal government’s unrealized income elevated 2.4 instances.

Enjoyable Truth: US gov holds 210,392 $BTC, with a 2.4x unrealized revenue, and hasn’t offered any #Bitcoin since July 2023.

— Ki Younger Ju (@ki_young_ju) March 15, 2024

On the similar time, Arkham platform analysts have completely different information. They reported that the deal with, which allegedly belongs to the U.S. authorities, shops 215,245 BTC, which quantities to about $14.8 billion on the time of writing.

You may also like: Arkham discovers UK authorities pockets with $4.1b in BTC

CryptoQuant: US government holds 210k Bitcoins with $14.4b unrealized profit - 1

Supply: Arkham

Along with Bitcoin, the pockets holds 50,147 Ethereum (ETH), 10.14 million USD Coin (USDC), 5.36 million Dai (DAI), and a couple of.27 million Tether (USDT).

Some authorities wallets are public, and the crypto group is intently monitoring them, fearing the detrimental affect of a one-time sale of many cash on the worldwide crypto market, whose complete capitalization is estimated at greater than $2.5 trillion.

In March 2023, the U.S. transferred BTC confiscated from the Silk Street hacker to Coinbase. In April, the federal government offered one other 9,861 BTC. Then, in January, authorities officers introduced their intention to promote a number of the cryptocurrency related to the Silk Street case. The assertion talked about property of two,934 BTC.

In February, the U.S. authorities transferred one other 15,085 BTC seized after the hacked Bitfinex cryptocurrency change. The U.S. authorities confiscated funds from the platform in 2016 after hacker Ilya Lichtenstein stole about $4.5 billion from Bitfinex.

You may also like: U.S. authorities is now largest Bitcoin whale with $5b in BTC

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