A popular crypto analyst, Willy Woo, thinks the US government might have to return a big chunk of its Bitcoin stash to the crypto exchange Bitfinex.
Trump’s Bitcoin Plan May Be Impossible
Former President Trump said the government would keep all the Bitcoin it has, but Woo says that’s unlikely. He claims that about half of the government’s Bitcoin, which is worth over $12 billion, was actually stolen from Bitfinex in a 2016 hack.
Bitfinex Could Sue to Get Their Bitcoin Back
Woo believes Bitfinex, and its sister company Tether, will likely take legal action to get their Bitcoin back. They have the money and the history of buying Bitcoin, so it makes sense for them to try to recover the stolen funds.
Legal Action Will Likely Be Quiet
If Bitfinex does sue, Woo thinks they’ll keep it quiet. They’re known for being low-key and avoiding the spotlight.
The Government’s Bitcoin Stash
Right now, the US government holds over 200,000 Bitcoin. Meanwhile, Tether, a company that issues stablecoins, holds over 75,000 Bitcoin in its treasury.
