US Govt Hold Billions of Dollars in Bitcoin: Study Reports
US government may have a big Bitcoin wallet, says a study. This comes as the SEC takes strict actions against major digital money companies.
The US government's financial watchdog, the SEC, is known for its strict actions against big digital money companies like Binance, Coinbase, and Ripple. But a study by PeckShield Alert hints that the US government might have a huge Bitcoin wallet.
PeckShield found that the fifth-largest Bitcoin wallet, which has 94,643 BTC worth about $2.46 billion, may be linked to a 2016 theft from the Bitfinex platform. They also noticed that in February 2022, some Bitcoin was moved to this wallet.
In the same month, PeckShield shared on social media that the Department of Justice (DOJ) took control of a big Bitcoin amount linked to the Bitfinex theft. This amount of Bitcoin, stolen in 2017, was worth $75 million back then. Now, its value has jumped to $3.6 billion.
A report by Forbes in June said that the US Treasury has 207,189 BTC, worth $5 billion, making it the biggest amount held by a government. Another study mentioned that the US had 69,640 BTC a while ago, which was most of the Bitcoin owned by governments then.
Data also showed that the trading app Robinhood has a big Bitcoin wallet worth over $3 billion.
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