The US government raised $ 2.2 ...

US government raised $ 2.2 billion in confiscated bitcoins
CONTENT

  • US authorities hold record amount of BTC

  • How exactly the regulator will dispose of the cryptocurrency remains unknown

  • Earlier in the US, confiscated bitcoins were sold at auctions

The US government raised $ 2.2 ...

International consortium of news organizations developing transparency standards.

The total amount of bitcoins under the control of the US authorities is now over 69 thousand BTC (over $ 2 billion)

The volume of confiscated bitcoins under the control of the US authorities exceeded the $ 2.2 billion mark. Cryptanalyst Kevin Rook was the first to notice this on his Twitter page..

Join our telegram channel to keep abreast of the main trends in the crypto market.

The US government raised $ 2.2 ...

According to Ruka, in 2021, the number of bitcoins directly controlled by the US government reached 69,814 BTC ($ 2.24 billion at the rate of $ 32,122 per BTC). The last increase in seized bitcoins took place in early January 2021, when the California District Court issued an order to seize 391 bitcoins ($ 12.5 million).

Rook points out that this is the largest bitcoin seizure since 69,370 BTC was seized from the Silk Road darknet marketplace in November 2020..

National reserve

How exactly the US authorities will dispose of the confiscated cryptocurrency is still unknown. In early 2020, for example, the US Federal Marshals Service lost at least $ 1.7 billion in bitcoin auctions.

Learn how to trade in the cryptocurrency market with BeInCrypto partner, StormGain cryptocurrency exchange

The first auction of confiscated cryptocurrency in the history of bitcoin took place on June 27, 2014. Then the buyer was a well-known supporter of the crypto market Tim Draper, who bought 29,657 bitcoins for $ 18.7 million.If the regulator held an auction in 2017, then Draper would have to fork out $ 590 million.In 2021, the amount would increase to $ 952.6 million.

The US government raised $ 2.2 ...

However, not only the US government is confiscating cryptocurrencies. In early August 2020, German law enforcement authorities confiscated $ 30 million in bitcoin from one of the world’s largest pirate movie sites. At the time, it was reported that the profits generated from ad fees and subscription revenues had been used to purchase large volumes of bitcoin cryptocurrency since at least mid-2012..

The total amount of BTC purchased through the functioning of the pirate site exceeded 22 thousand bitcoins (at the time of writing ~ $ 706 million).

What do you think? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

Share Article

Similar articles