Thanks to FTX and other scandals earlier in the year, the spotlight again was on cryptos, and specifically Bitcoin.
With banks in turmoil, economies struggles, some are looking for a way out, and crypto can be one of those paths.
But is the U.S. government getting involved. Often, where there is money to me made, the government wants their share.
The problem is, due to the anonymous nature of bitcoin and crypto, it’s hard to know for sure.
What we do know and what has been document is that yes, the U.S. government has held — at times — a stash of Bitcoin. That through seizures. Those seizures over time could have pocketed the U.S. government some 200,000+ coins, or about 1% of the total supply.
Imagine when a nefarious individual gets raided, the authorities take in their possession possible crypto, and sometimes it can be quite a haul.
From there, little is known what really happens to the seized coins. We do know they convert it back to cash then put that cash in fund for use by congress, or so they say.
But they do have some, that’s for sure. Whether they are an active buyer is for another writer to discuss.