Uncle Sam’s Crypto Stash: $8.3B Bitcoin Hoard Threatens Market Plunge
Published by
Benzinga
Benzinga
The U.S. government’s significant accumulation of Bitcoin (CRYPTO: BTC), currently valued at $8.3 billion, has raised concerns about potential market impacts if these holdings were to be liquidated. Over the last two years, U.S. authorities have seized 207,189 Bitcoin through operations linked to Silk Road, hacker Jimmy Zhong, and Bitfinex hackers, Blockworks reported. The value of this stockpile has increased by $3.3 billion in less than three months thanks to the Bitcoin price rally. While only 5% has been sold so far, the large stockpile presents risks if liquidated in bulk. Selling the 41,…