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The U.S. government quietly transfers $921 million worth of Bitcoin!

Thu 29 Feb 2024 ▪ 3 min of reading ▪ by Eddy S.
Getting informed Crypto regulation

The U.S. Department of the Treasury has just transferred 15,085 bitcoins, valued at $921 million, to two new wallets. Now holding more than 200,000 bitcoins, valued at over $12 billion, the United States confirms its status as the leading state holder of cryptocurrency. A strategic choice that is not without risk.

Bitcoin Crypto

The Transfer of the 15,000 Bitcoins

The funds were sent to two completely unknown crypto addresses until now. According to experts, these are new cold wallets created specifically to store this massive amount of bitcoin owned by the U.S. government.

The transfer has raised questions. The exact origin of these bitcoins has not been disclosed. Are they the result of seizures related to legal cases like the dismantling of Silk Road in 2013? Or has the government been making massive purchases on the crypto market?

U.S. Government’s Crypto Reserves

With these 15,085 bitcoins transferred, the reserves held by the U.S. government have literally skyrocketed. They are now estimated at 200,160 bitcoins, based on known addresses.

At the current rate of around $63,000, this represents a total insane value of almost $12 billion! That’s more than the GDP of some countries.

This massive accumulation of cryptocurrency suggests that the U.S. government is increasingly positioning itself in this new asset class. Some see it as a means to control or even destroy Bitcoin if necessary.

Others believe it’s a way for the United States to secure a slice of the pie, in case the premier cryptocurrency definitively asserts itself in the future. In any case, this prompts reflection on the real motivations behind these huge reserves.

The transfer of 15,000 new bitcoins into government wallets shows the deliberate intent of the United States to bet big on cryptocurrency. Now with 200,000 bitcoins in its reserves, valued at $12.3 billion, the country is positioning itself more than ever as a major player in this space. We are left to wonder what the next steps of this for now mysterious strategy will be. One thing is certain, the U.S. government intends not to miss the turn of Bitcoin and virtual currencies.

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Eddy S. avatar
Eddy S.

Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.