A recent report unveiled the bitcoin holdings of the Federal Government of the United States, accounting for around $5 billion worth of BTC. According to the Wall Street Journal, three recent seizures yielding over 200,000 bitcoins have made the United States one of the largest bitcoin holders in the world.
Prominent Chinese reporter Colin Wu took to X (formerly Twitter) earlier today to reveal the United States’ acquisition of the largest cryptocurrency by market cap. The seized bitcoins were primarily traced to cyber criminals and darknet markets. They were stored in encrypted hardware wallets owned by government agencies, including the U.S. Treasury, the Internal Revenue Service (IRS), and the Justice Department.
Notably, the legal procedures involved in the conversion of the seized bitcoins might span for years. Though the recent addition of these bitcoins has contributed to the total holdings of the government, the stack does not immediately belong to the United States.
Read more: coinedition.com