Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: ABCbits on March 05, 2024, 11:31:44 AM
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US Government Continues Bitcoin Seizures, Controls Nearly 1% of Circulating Supply
The United States federal government has once again added to its substantial Bitcoin hoard, transferring $922 million worth from wallets associated with Bitfinex hackers in a seizure.
Over the course of a series of various seizures and other asset forfeitures, the United States federal government has accumulated and holds enough Bitcoin to unquestionably count as one of the largest whales. In the earliest days of the Bitcoin scene, the overwhelming crypto-anarchist spirit among the community led to a series of various extralegal business ventures, most famously the Silk Road. This overtly illegalist era of the industry is more or less completely over, but the success of these early ventures accumulated massive amounts of Bitcoin: which has in time been accumulated by the US government... Read more here (https://bitcoinmagazine.com/markets/us-government-continues-bitcoin-seizures-controls-nearly-1-of-circulating-supply-).
It's interesting to see Edward Snowden speculate multiple government would obtain Bitcoin and use it as one of their reserves. Although i'm also a bit concerned about possibility of price manipulation due to amount of BTC U.S. government have. Your opinion is greatly appreciated.
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Oh, BitcoinMagazine, this dailymail of the crypto world.
The US marshal service has just auctioned 2,800 BTC last month and some still think the governments are hoarding BTC?
https://blockworks.co/news/us-sells-btc-silk-road
Also:
The United States federal government has once again added to its substantial Bitcoin hoard, transferring $922 million worth from wallets associated with Bitfinex hackers in a seizure.
from the article they quoted:
The United States government transferred $922 million worth of Bitcoin from two cryptocurrency wallets that held funds seized from Bitfinex in 2016.
If they did seize that in 2022 how did the amount of Bitcoin seized grown when they were just moving coins? How to make headlines out of nothing! I swear BitcoinMagazine has become the tabloid of crypto!
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The US marshal service has just auctioned 2,800 BTC last month and some still think the governments are hoarding BTC?
https://blockworks.co/news/us-sells-btc-silk-road
That's what I was thinking, I knew from other times that the US government had auctioned bitcoin. In principle, it sounds nice that governments are starting to keep bitcoin like they keep gold, but I wouldn't want the US government and others to take a liking to it, I'd almost prefer them to sell it. Of course, when I see some news like this that doesn't quite add up, I usually wonder if the person who is telling the story has an interest in making it happen.