The United States government, one of the largest holders of Bitcoin (BTC) in the world, missed out on potential gains exceeding $6 billion by selling its Bitcoin holdings prematurely.
The US government’s seized Bitcoin tally stands at 210,429 BTC, valued at over $7.2 billion, as of October 31, 2023. Data from the on-chain analytics firm Glassnode reveals the extent of these losses.
The U.S. Department of Justice (DOJ) and Internal Revenue Service (IRS) have accrued a large amount of BTC through various legal proceedings over the years. However, only a small fraction of this has been resold at auction.
The government’s premature selling resulted in missed profits, pegged at over $6 billion, as per statistics compiled by Jameson Lopp, co-founder of Bitcoin custody firm Casa. This figure represents the potential gains from the government’s 195,092 BTC sell-off.
According to data from BitcoinTreasuries, no single entity, excluding Satoshi Nakamoto, owns more BTC than the DOJ. The largest corporate BTC treasury belongs to MicroStrategy, holding 158,245 BTC, valued at $5.43 billion.
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