{"id":13876,"date":"2023-10-31T19:25:25","date_gmt":"2023-10-31T19:25:25","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13876"},"modified":"2023-10-31T19:25:27","modified_gmt":"2023-10-31T19:25:27","slug":"us-govt-missed-bitcoin-gains-now-total-6b","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13876","title":{"rendered":"US gov\u2019t missed Bitcoin gains now total $6B"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC), worth over $7.2 billion, is still controlled by the United States government \u2014 but its losses are mounting.<\/p>\n<p>Data from on-chain analytics firm Glassnode shows that Washington\u2019s seized Bitcoin total 210,429 BTC as of Oct. 31.<\/p>\n<h2>195,000 BTC sold, $6.3 billion down<\/h2>\n<p>The U.S. Department of Justice (DOJ) and Internal Revenue Service (IRS) are well known \u2014 perhaps accidentally \u2014 as being one of the world\u2019s largest Bitcoin whales.<\/p>\n<p>Through various legal proceedings, lawmakers have confiscated vast amounts of BTC over the years, and only a small percentage of its takings have been resold at auction.<\/p>\n<p>Those who opted to buy the proceeds have profited considerably, and adding to the irony, the DOJ \u2014 more like a Bitcoin newbie than a whale \u2014 has been guilty of selling too soon.<\/p>\n<p>According to statistics compiled by Jameson Lopp, co-founder of Bitcoin custody firm Casa, the government has so far missed out on a grand total of over $6 billion in potential gains from its 195,092 BTC sell-off.<\/p>\n<p><em>Largest national and corporate Bitcoin holdings (screenshot). Source: BitcoinTreasuries<\/em><\/p>\n<p>No single entity other than Satoshi Nakamoto owns more BTC than the DOJ. The largest corporate BTC treasury, for example, owned by MicroStrategy, currently consists of 158,245 BTC ($5.43 billion), per data from monitoring resource BitcoinTreasuries.<\/p>\n<h2>Heavy Bitcoin bag<\/h2>\n<p>Glassnode shows the DOJ stash growing in step with announcements of confiscations.<\/p>\n<p><strong><em>Related:\u00a0There are now nearly 40M Bitcoin addresses in profit \u2014 A new record<\/em><\/strong><\/p>\n<p>In early 2022, its inventory increased by nearly 100,000 BTC \u2014 at the time worth $3.6 billion \u2014 thanks to legal action against individuals accused of attempting to launder the proceeds of a 2016 hack of major crypto exchange Bitfinex.<\/p>\n<p><em>U.S. government BTC balance chart. Source: Glassnode<\/em><\/p>\n<p>Meanwhile, billionaire Tim Draper, one of the original BTC auction bidders, recently accused the U.S. government of suppressing crypto growth.<\/p>\n<p>Having previously predicted a $250,000 BTC price tag for 2022, Draper subsequently claimed that policy failures were \u201ckilling the golden goose of Silicon Valley.\u201d<\/p>\n<p>\u201cRegulations smother innovators,\u201d part of an X post from May reads.<\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/us-gov-missed-bitcoin-gains-total-6b\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC), worth over $7.2 billion, is still controlled by the United States government \u2014 but its losses are mounting. Data from on-chain analytics firm Glassnode shows that Washington\u2019s seized Bitcoin total 210,429 BTC as of Oct. 31. 195,000 BTC sold, $6.3 billion down The U.S. Department of Justice (DOJ) and Internal Revenue Service (IRS) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13876"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13876\/revisions"}],"predecessor-version":[{"id":13878,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13876\/revisions\/13878"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13877"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}