Contrary to some rumors, U.S. officials have yet to conduct any fresh Bitcoin transactions, disproving claims that the Department of Justice gave approval for a large-scale sell-off.
According to the blockchain analysis firm Arkham, approximately $2.3 billion worth of Bitcoin (BTC), which was previously confiscated from the Silk Road marketplace and FBI seizures, continues to be held in wallets controlled by the U.S. government as of January 9th.
“The US Government is selling all their Bitcoin!!”
check the chain… it’s still there
— Arkham (@arkham) January 9, 2025
The data supplier offered evidence on the blockchain verifying a balance of approximately $6.44 billion, despite whispers that officials might be offloading assets.
Speculation about the sale emerged following news that the DOJ had given approval for the liquidation of 69,370 BTC, as per reports from late December, which have just come to light this week.
As I eagerly await President Donald Trump’s inauguration, the recent news about his intentions regarding Bitcoin has left me pondering. In his promise, Trump intends to preserve America’s Bitcoin assets and establish a reserve for this digital currency.
Senator Cynthia Lummis took up his proposed plan, which was subsequently presented before the U.S. Senate. Meanwhile, Congress was pondering over legislation that would allow the Federal Reserve to keep Bitcoin reserves, following Fed chair Jerome Powell’s statement suggesting the central bank doesn’t currently have the legal authority to hold cryptocurrency.
As we speak, Donald Trump’s inauguration ceremony, set for January 20th, is just 11 days off. It’s still uncertain if the US government plans to liquidate its Bitcoins in the last few days of President Joe Biden’s term.
As an analyst, I’ve observed a significant push within the cryptocurrency sector. Notably, a key industry figure advocated to President Trump, urging him to establish a Bitcoin reserve within his first 100 days in office through an executive order. Furthermore, states such as Texas and Ohio have shown interest in legislation specifically targeting Bitcoin.
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2025-01-09 20:37