U.S Government is Hoarding Bitcoin and It Looks Good on ‘Em!
Do you ever look at someone’s outfit, wallet or car and think, “Damn, I gotta get my hands on that!” Well turns out the US government is the latest one to have pulled together a pretty sweet (and valuable!) look.
Gov Caught Holding the Cryptocurrency Bag
It’s just been revealed that the US Government has been piling up Bitcoin over the years and have a huge stash now worth an impressive $5.6 billion! Here’s a look at where they got it from:
- Seizure: The US Marshals Service has seized over 2.3 million bitcoins since 2016 as a result of forfeiture procedures.
- Bounty: There’s also been huge bounties paid for bringing down criminals, with rewards from the US government totaling nearly 80,000 BTC.
- Confiscation: Besides those, the US government also received 168,000 BTC from the Silva case which ended up in government hands due to confiscation.
Bitcoin Stache Worth 6 Times More than Gold Reserves
So who exactly did the US government steal this crypto from? Well, all of these seized Bitcoins came from criminal activities and dark net raids, with the most recent ones all having something to do with child exploitation and sex trafficking.
With a current estimated value of $5.6 billion, this stash has risen in value over 6 times the official US gold reserves! It would appear the US government has been catching up with the times, seeing that everyone is all over such a lucrative asset.
Bitcoin Revolution: What Will The Government Do With It?
Now for the million dollar question: What will the US government do with all their hoarded Bitcoins? We can only speculate, but it sure looks like they are ready to cash in on the Bitcoin Revolution in the near future.
That being said, we can only applaud this move from the US government as they have taken a great initiative in gathering up all these digital coins. So who’s really got what it takes? Well turns out this time round the US government is looking real good!
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