US Government Reportedly Holds $13.16 Billion in BTC...About 1% Of Supply
CryptoNewsTerminal Staff18 May, 2024
US Government Reportedly Holds $13.16 Billion in BTC...About 1% Of Supply
The US government reportedly holds $13.16 billion worth of Bitcoin (BTC), representing about 1% of the total supply, according to data from IntoTheBlock cited by CryptoSlate. The US government's Bitcoin holdings are largely tied to the 2013 seizure of 174,000 BTC from the dark web marketplace Silk Road and the subsequent recovery of a significant portion of the 120,000 BTC stolen in the 2016 Bitfinex hack. The report highlights the potential significance of the US government's large Bitcoin holdings, noting that "the possibility of the government selling its BTC through direct sales or auctions could introduce selling pressure on the market."
