bitcoin
Bitcoin (BTC) $ 66,694.87
ethereum
Ethereum (ETH) $ 3,501.19
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 593.30
xrp
XRP (XRP) $ 0.593735
cardano
Cardano (ADA) $ 0.433706
usd-coin
USDC (USDC) $ 1.00
matic-network
Polygon (MATIC) $ 0.534767
binance-usd
BUSD (BUSD) $ 0.998626
dogecoin
Dogecoin (DOGE) $ 0.132239
okb
OKB (OKB) $ 42.97
polkadot
Polkadot (DOT) $ 6.33
shiba-inu
Shiba Inu (SHIB) $ 0.000018
tron
TRON (TRX) $ 0.134297
uniswap
Uniswap (UNI) $ 7.96
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 66,690.87
dai
Dai (DAI) $ 0.99966
litecoin
Litecoin (LTC) $ 73.45
staked-ether
Lido Staked Ether (STETH) $ 3,499.34
solana
Solana (SOL) $ 169.33
avalanche-2
Avalanche (AVAX) $ 28.34
chainlink
Chainlink (LINK) $ 14.06
cosmos
Cosmos Hub (ATOM) $ 6.51
the-open-network
Toncoin (TON) $ 7.34
ethereum-classic
Ethereum Classic (ETC) $ 23.81
leo-token
LEO Token (LEO) $ 5.73
filecoin
Filecoin (FIL) $ 4.68
bitcoin-cash
Bitcoin Cash (BCH) $ 395.76
monero
Monero (XMR) $ 162.41
bitcoin
Bitcoin (BTC) $ 66,694.87
ethereum
Ethereum (ETH) $ 3,501.19
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 593.30
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.593735
binance-usd
BUSD (BUSD) $ 0.998626
dogecoin
Dogecoin (DOGE) $ 0.132239
cardano
Cardano (ADA) $ 0.433706
solana
Solana (SOL) $ 169.33
matic-network
Polygon (MATIC) $ 0.534767
polkadot
Polkadot (DOT) $ 6.33
tron
TRON (TRX) $ 0.134297

$17.8 Billion Bitcoin Is Still Sitting in These Government Wallets: Arkham

Must Read

Information from crypto analytics agency Arkham has revealed that a number of governments are holding important quantities of Bitcoin, totaling roughly $17.8 billion at present market costs.

Arkham has highlighted substantial holdings of Bitcoin seized by the USA, United Kingdom, and Germany because of prison instances, whereas El Salvador has made important purchases of Bitcoin for its treasury.

United States: $12 billion in Bitcoin reserves

America authorities holds the biggest share of Bitcoin, with an estimated $12 billion value of Bitcoin in its possession.

A lot of this cryptocurrency is believed to have been seized in high-profile instances such because the 2013 Silk Highway bust and subsequent operations concentrating on darknet markets.

In 2020, the U.S. Division of Justice seized over $1 billion in Bitcoin associated to Silk Highway, marking one of many largest cryptocurrency forfeitures in historical past.

The U.S. has historically used auctions to promote seized Bitcoin, with the U.S. Marshals Service overseeing a number of such occasions since 2014.

Nevertheless, current stories recommend a shift in direction of extra market-based approaches, together with over-the-counter (OTC) gross sales.

The timeline for future gross sales stays unclear, with the federal government usually not saying its plans prematurely to forestall market manipulation.

United Kingdom: $3.3 billion Bitcoin holdings

The UK authorities holds roughly $3.3 billion value of Bitcoin, in keeping with Arkham’s evaluation.

A good portion of this can be attributed to numerous legislation enforcement operations.

In 2021, the Metropolitan Police reported seizing £180 million (round $250 million on the time) in cryptocurrency as a part of a cash laundering investigation.

Whereas the UK has been much less vocal about its plans for these digital property, the nation’s tax authority, HM Income and Customs (HMRC), has beforehand auctioned seized cryptocurrency.

The newest info on potential gross sales or auctions of this substantial Bitcoin holding stays restricted, leaving market observers speculating on the UK’s long-term technique for these property.

Germany: $2.2 billion in Bitcoin reserves

Germany’s Bitcoin holdings, valued at roughly $2.2 billion, have not too long ago made headlines.

In February 2024, German authorities introduced plans to promote round €1 billion ($1.08 billion) value of seized cryptocurrency, primarily Bitcoin.

This determination marked a big shift from their earlier method of holding onto confiscated digital property.

The German authorities has opted for a gradual promoting technique by way of over-the-counter (OTC) trades to reduce market impression.

This transfer represents one of many largest authorities liquidations of cryptocurrency thus far and is being carefully watched by market individuals and different governments holding seized digital property.

El Salvador: $314 Million in Bitcoin Treasury

Whereas not ensuing from seizures, El Salvador’s $314 million Bitcoin holdings are noteworthy.

Not like the opposite international locations, El Salvador’s Bitcoin treasury is a part of a nationwide technique initiated by President Nayib Bukele.

The nation turned the primary to undertake Bitcoin as authorized tender in 2021 and has since amassed its holdings by way of direct purchases and mining operations.

El Salvador’s method differs considerably from the opposite governments, because it represents a strategic funding relatively than seized property.

The nation has maintained its Bitcoin place regardless of market fluctuations, with Bukele sometimes saying new purchases on social media platforms.

As governments proceed to navigate the complexities of holding and probably liquidating giant quantities of Bitcoin, their choices will seemingly have important ramifications for cryptocurrency markets and regulatory frameworks worldwide.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

How powerful are AI-based multi-strategy trading models?

The cryptocurrency market is thought for its volatility and inefficiencies. These inefficiencies current quite a few revenue alternatives, however...
- Advertisement -

More Articles Like This