Key Points
- Wallets believed to be linked with the U.S. authorities have transferred 3,940 bitcoins, valued at $241 million, to Coinbase.
- The U.S. authorities is likely one of the world’s largest bitcoin holders, with 213,546 bitcoins, valued at over $13 billion.
A big quantity of Bitcoin (BTC), particularly 3,940 BTC price $241 million, has been moved to Coinbase from wallets suspected to be linked to the U.S. authorities. This information comes shortly after stories of the German authorities shifting 750 bitcoins.
Government Involvement in Cryptocurrency
It’s not uncommon for governments to public sale off or promote cryptocurrency obtained from prison investigations or asset seizures. For instance, billionaire bitcoiner Tim Draper purchased about 30,000 bitcoins in 2014 that had been confiscated from the Silk Road darknet market by the U.S. Marshals Service.
The 3,940 bitcoins moved to Coinbase had been traced again to Banmeet Singh, an Indian nationwide, by Arkham Research. Singh was convicted in 2024 for distributing managed substances and cash laundering offenses and was ordered to forfeit cryptocurrencies price about $150 million on the time.
The U.S. Government as a Bitcoin Holder
According to Bitcoin Treasuries, the U.S. authorities at the moment owns 213,546 bitcoins, valued at over $13 billion. This makes it one of many largest bitcoin holders globally. The German authorities follows intently because the world’s fourth-largest sovereign holder of bitcoin, with 46,359 cash, behind China and Great Britain.
Bitcoin educator and Casa co-founder, Jameson Lopp, has tracked U.S. authorities gross sales of bitcoin. He discovered that since 2014, it has seized and offered at the least 195,091 bitcoins, incomes over $366 million. Government-held bitcoin stockpiles account for two.7% of the entire 21 million bitcoin provide.
