Did the U.S. government just dump $20B in Bitcoin?
Main Idea
The U.S. government holds nearly 198,000 BTC across various federal departments, with no evidence of recent large-scale liquidation, despite rumors of a $20 billion Bitcoin dump.
Key Points
1. The U.S. government holds approximately 198,000 BTC, valued at around $23.5 billion, across agencies like the FBI, DOJ, DEA, and U.S. Attorney’s Offices.
2. A Freedom of Information Request response revealed the U.S. Marshals Service (USMS) holds 28,988 BTC, worth about $3.4 billion.
3. Partial liquidation has occurred, such as 41,700 BTC from the 51,680 BTC seized from James Zhong’s Silk Road case, but no recent large-scale sales are evident.
4. Bitcoin's price has remained stable, trading at approximately $118,200, down just 0.08% over the past week.
5. Macroeconomic factors, such as the Federal Reserve’s interest rate range of 5.25%–5.50% and potential U.S. debt ceiling expansion, could influence Bitcoin's role as a hedge.
Description
A rumor has been spreading in the past week or so that the U.S. government may have quietly dumped nearly 170,000 Bitcoin ( BTC ), worth around $20 billion in total. Namely, while the Freedom of Information Request response from the U.S. Marshals Service (USMS) did disclose a total of 28,988 BTC in holdings, valued at approximately $3.4 billion, the fact remains that other federal departments hold the cryptocurrency as well. In total, the government still holds nearly 198,000 BTC across various ...
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