The seized asset does not instantly belong to the government and The U.S. Marshals Service only receives possession of the seized Bitcoins after a court issues a definitive forfeiture judgment.
The $5-billion estimation is based on three major seizures linked to the Bitfinex hack and Silk Road, meaning the actual holdings could be much larger.) holders, with over 200,000 BTC worth more than $5 billion despite selling a few thousand BTC worth millions earlier this year.
According to a data analysis based on public filings, crypto firm 21.co estimated that the U.S. government still holds 194,188 BTC, estimated to be worth $5.3 billion. The firm noted in its analysis that these are “lower-bound estimations of the U.S. government holdings based on publicly available information.”The analysis tracked the Bitcoin movement of the U.S.
However, in recent years, the U.S. government has turned to crypto exchanges to sell seized Bitcoin over public auctions. One such sale came in March earlier this year when the government sold 9,118 BTC on Coinbase, as confirmed through a public filing.
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