Wednesday 29 March 2023

It Seems The US Government Has A Large Sum Of Bitcoin At Its Disposal

According to researchers at analysis firm Dune, the US government’s entire supply of BTC is 205,515 BTC, representing more than 1% of the asset’s supply and making the US government “one of the top Bitcoin whales.” The US Department of Justice has confiscated around 215,000 BTC tied to criminal conduct since 2020, including 69,370 BTC linked to the darknet marketplace Silk Road, 94,643 BTC linked to the Bitfinex hacking pair, and 51,326 BTC linked to Silk Road hacker James Zhong.
Dune describes this as a “lower-bound estimate” based on publicly available data. PeckShield, an analytics business, had observed the flow of 48,998 BTC from US government accounts. 30,174 BTC and 8,999 BTC were transmitted to two new addresses, respectively, while another 9,825 BTC was paid to the US bitcoin exchange Coinbase.

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