US Government Owns 1% of all Bitcoins in Circulation

It has been reported that the United States government owns about 1% of all bitcoins in circulation. Check it out in this article.

The US government currently holds 205,515 bitcoins valued at $5.66 billion based on current exchange rates.

Bitcoins were seized in three cases, including the Silk Road seizure in November 2020, the Bitfinex seizure in 2022, and the James Zhong bitcoin seizure last year.

Binance Organizes Consortium of Companies to Bring Confidence Back to the Market

According to a Glassnode report on March 9, 2023, some of those bitcoins have moved, reducing the total from 215,338 to 205,515 BTC .

“Approximately [40,000 bitcoins] from wallets associated with seizures by US government officials are on the move,” reported Glassnode.

“Most of them seem to be internal transfers (so far). However, around 9,861 [bitcoins] seized from the Silk Road hacker were sent to the Coinbase (NASDAQ: COIN ) cluster.”

The 205,000 bitcoins seized by the US government constitute a sizeable stockpile compared to other large holders.

While less than Grayscale’s customer total of 643,572 BTC, it dwarfs Microstrategy’s 132,500 BTC stash.

Reference Source: Investing.com

US Government Owns 1% of all Bitcoins in Circulation(Google source)