The US Treasury Department has just transferred 15,085 bitcoin, worth $921 million, to two new wallets. With now more than 200,000 bitcoins in its possession, valued at more than $12 billion, the United States confirms its status as the leading state holder of crypto. A strategic choice that is not without risk.
The transfer of 15,000 bitcoins
The funds were sent to two completely unknown crypto addresses until now. According to experts, these are new cold wallets created specifically to store this immense amount of bitcoin belonging to the US government.
The transfer did not fail to raise questions. The exact origin of these bitcoins has not been disclosed. Are these seizures linked to legal cases like the dismantling of Silk Road in 2013? Or has the government made massive purchases in the crypto market?
US government crypto reserves
With these 15,085 bitcoin transferred, reserves held by the American government are literally exploding. They are now estimated at 200,160 bitcoin, based on known addresses.
At a current price of around $63,000, that represents a crazy total value of almost $12 billion! This is more than the GDP of some countries.
This massive accumulation of crypto suggests that the US government is increasingly positioning itself on this new asset class. Some see it as a way to control or even destroy bitcoin if necessary.
Others believe that it is a way for the United States to secure a piece of the pie, in case the first crypto establishes itself definitively in the future. Regardless, this raises questions about the real motivations behind these enormous reservations.
The transfer of 15,000 new bitcoins to government wallets shows the United States’ willingness to bet big on crypto. With now 200,000 bitcoin in its reserves, or $12.3 billion, the country is more than ever a major player in this universe. It remains to be seen what the next steps in this currently mysterious strategy will be. One thing is certain, the American government intends not to miss the shift towards bitcoin and virtual currencies.
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