New data from Dune shows that the United States government now holds over 205,000 $BTC, roughly $5.7 billion at current spot rates. 😱
This figure is greater than that of $MSTR and $TSLA, who hold 132,500 BTC and 10,725 BTC, respectively.
Is the gubment diamond hand hodling and buying the dip? Nope. The government’s Bitcoin stash comes from multiple sources, including the Silk Road marketplace, the 2016 Bitfinex hack, and James Zhong’s illegal acquisition of over 50,000 BTC – which he stole from Silk Road.
The growing government Bitcoin holdings represent a significant milestone for the cryptocurrency industry, indicating that Bitcoin is no longer just a fringe asset but a recognized store of value that mainstream institutions are adopting.
The gubment sometimes auctions off seized Bitcoin – but they do it in big chunks, so you have to be uber-wealthy. Like Tim Draper in 2014 when he nabbed 30,000 BTC for $18 million – that’s $600 per Bitcoin. 😡