CryptoQuant: US government possesses 210,000 Bitcoins generating unrealized profit of $14.4 billion.
The United States government currently holds 210,392 BTC, which is valued at $14.4 billion. This makes the US one of the largest holders of Bitcoin in the world.
According to Ki Young Ju, the head of CryptoQuant, the US government has not sold any Bitcoin since July 2023. As a result, their unrealized profits have increased by 2.4 times.
However, analysts from the Arkham platform have different data. They claim that the US government’s address actually holds 215,245 BTC, which is equivalent to about $14.8 billion at the time of writing.
In addition to Bitcoin, this government wallet also contains 50,147 ETH, 10.14 million USDC, 5.36 million DAI, and 2.27 million USDT.
Some government wallets are publicly known, and the crypto community is closely monitoring them. There is concern that a large-scale sale of these coins could have a negative impact on the global crypto market, which has a total capitalization of over $2.5 trillion.
In March 2023, the US government transferred BTC that was confiscated from the Silk Road hacker to Coinbase. In April, they sold an additional 9,861 BTC. And in January, government officials announced their intention to sell some of the cryptocurrency associated with the Silk Road case, specifically mentioning 2,934 BTC.
Furthermore, in February, the US government transferred another 15,085 BTC that had been seized after the Bitfinex cryptocurrency exchange was hacked. The government had confiscated these funds in 2016, when hacker Ilya Lichtenstein stole around $4.5 billion from Bitfinex.
It is worth noting that the US government’s ownership of Bitcoin has made it the largest Bitcoin whale, with holdings valued at $5 billion.
