Recent Transactions
The US government has recently transferred a whopping 15,085 Bitcoin (BTC), worth around $923 million. This transfer was detected by Arkham Intelligence, a blockchain analytics firm.
The funds came from two government-owned wallets that contained BTC seized from the Bitfinex hack in 2016. The transfers were made in four separate transactions over a single day.
Government’s Crypto Holdings
The US government now holds over 200,000 BTC, valued at $12.50 billion. Ethereum is the second-largest asset in its portfolio, with over 56,000 ETH.
The government also owns other cryptocurrencies such as AUSDC, USDC, and DAI. Its total crypto holdings are estimated at $12.73 billion.
Speculation on National Government Accumulation
Whistleblower Edward Snowden has suggested that a national government may be accumulating BTC. He believes that a government will soon be revealed to have been buying Bitcoin for some time.
Snowden suggests that this government may use BTC as an alternative to traditional gold reserves. However, he did not specify which government is involved.
