The U.S. Treasury Department’s Bitcoin holdings have grown exponentially in recent years, making the U.S. government reportedly the largest Bitcoin reserve in the world. As a result of three large seizures in criminal cases, the U.S. Treasury Department estimates there are at least 194,188 BTC tokens. Currently, Bitcoin is trading at $28,363 (approximately Rs. 2.36 crore) and the US Treasury may hold $5.5 billion (approximately Rs. 45,778 crore) worth of Bitcoin.
In the past three years, U.S. law enforcement agencies have successfully solved three cryptocurrency-related crimes and recovered significant amounts of cryptocurrency. These cases include the Silk Road darknet collapse, the seizure of stolen Silk Road-related Bitcoins from U.S. national James Chung, and the Bitfinex hack.
In an analysis, cryptocurrency firm 21.co has It is said It is stated that the US government is expected to own 194,188 BTC tokens, which may be a lower-end estimate based only on public information. In fact, the holdings may be larger.
The U.S. government ranks among the largest #bitcoin Bitcoin holders holding more than $5B:
The $5 billion estimate is based on three major seizures related to the incident. @bitfinex hack and Silk Road, meaning the actual holdings are likely much larger. pic.twitter.com/DXqH9ueILS— Pan Yi MMO (@phannghiammo) October 17, 2023
The U.S. Marshals Service has the responsibility to sell seized property. It cannot immediately place the government in possession of seized assets. Instead, the Marshals Service first needs to obtain a clear forfeiture judgment from a court before turning the assets over to the government.
Every once in a while, the U.S. courts order asset liquidations, and then the government sells some of the BCT assets through auctions.
Crypto culture in the United States is growing, which has also led to an exponential increase in criminal activity surrounding these assets. The U.S. SEC has been paying close attention to cryptocurrency companies such as Coinbase and Binance. The U.S. government has been taking strict measures to ensure that crypto-related companies undergo strict documentation before doing business. It also wants cryptocurrency businesses to identify suspicious activity and report it to law enforcement agencies so that timely action can be taken.
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