Data: The U.S. government has on-chain custody of over 200,000 BTC, worth over $6 billion

2023-05-06 08:54:45

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According to ChainCatcher news, data from blockchain analysis firm Arkham Intelligence shows that the U.S. government currently holds over $6 billion in Bitcoin assets on-chain. The held Bitcoins come from three asset seizures related to illegal activities, including 69,370 Bitcoins seized from Silk Road in 2020, 94,640 Bitcoins seized from the Bitfinex hacker in 2022, and 41,500 Bitcoins seized from James Zhong (the Silk Road hacker) in 2022 (originally over 50,000, with 9,861 sold), totaling 205,510 Bitcoins.

The U.S. government had previously announced its intention to sell the Silk Road-related Bitcoins in batches in 2023, and on March 14 of this year, it sent 9,861 Bitcoins to Coinbase for liquidation. Although the official statement claimed that the sale had been executed, the execution price was significantly lower than the spot price on that day. Arkham believes this seems to be for settling transactions with trade partners, selling at TWAP (Time-Weighted Average Price). (source link)

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