The US government currently holds a whopping sum of over $5.5 billion in Bitcoin (BTC), making it one of the largest Bitcoin whales globally.
Research conducted by 21.co reveals that the US government has in its possession 194,188 BTC. 21.co, the parent company of 21shares, is the leading issuer of crypto exchange-traded products globally.
This stash is equivalent to nearly 1% of the total circulating supply of Bitcoin. The researchers at 21.co clarified that their analysis is a conservative estimate of the US government’s holdings, based on publicly available data.
Their tracking system monitors wallets associated with the government’s three largest BTC seizures since 2020. Reportedly, the US government has confiscated at least 215,000 BTC since then, although some of it was moved earlier this year.
Blockchain security firm PeckShield has reported that the government transferred 9,826 BTC, worth $217 million, to leading domestic crypto exchange Coinbase in March. Further, an additional 39,175 BTC, valued at $867 million, was reportedly transferred to two new addresses, presumably under the government’s internal control and not associated with any exchanges.