Sirwin
Sirwin

As it turns out, US Government has paper hands

By LeftFooted | bitcoinea | 29 Feb 2024


The US Government is one of the largest Bitcoin holders in the world, by accident.


The US Government obviously never actually purchased BTC, not yet at least, but they hold thousands of coins because they get to keep the funds they seize from illegal activities, including the massive 'catch' they made when they shut down the infamous darkweb site 'Silk Road'.


As it turns out, the US Government has paper hands, not diamond hands.


Yesterday, Bitcoin hit $60,000 for the first time in nearly three years and the US govt moved $922 million worth of BTC from two crypto wallets they filled up with funds seized from Bitfinex in 2016.


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The first transaction, for 1 BTC, occurred on Feb 28 at 3:39 pm UTC, followed by another transaction for 2,817 BTC and then another for 0.01 and then a fourth, for a whopping 12,267 BTC.


The hero image for this post was created with AI by the author of this story

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LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


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