The US government raised $ 2.2 ...

US government raised $ 2.2 billion in confiscated bitcoins

  • 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 ...

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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..

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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..

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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.

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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).

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