Unveiling the US Bitcoin Treasure
Guess what? The U.S. government has started a big Bitcoin collection, which is a huge change in how they see digital money. This means that cryptocurrencies are becoming more important, and it also makes us wonder where all these Bitcoins came from and how many the U.S. has.
The US Bitcoin Treasure Chest
The U.S. government now has about 198,109 Bitcoins, which is worth around $17.80 billion at today’s prices[3]. This is a lot of Bitcoin, and it’s all because the government took them from bad guys during investigations and lawsuits over the years. Instead of selling them, the U.S. is now keeping these Bitcoins, which shows that they think Bitcoin is valuable, like gold[1].
Where Did the US Get All These Bitcoins?
The U.S. got most of its Bitcoins by taking them from people who did bad things. One famous case is when they took a lot of Bitcoin from a place called the Silk Road, which was an illegal online market[3]. The government has been doing this for a long time and has collected a lot of Bitcoin over the years.
Should the US Have Sold Its Bitcoins?
In the past, the U.S. sold a lot of its Bitcoins. Between June 2014 and March 2023, it sold about 195,091.75 Bitcoins for around $366.49 million[3]. If the U.S. had kept these Bitcoins, they would be worth about $17.6 billion today, because Bitcoin’s price has gone up a lot[3]. This shows that keeping Bitcoin for a long time can be a good idea.
A New Plan: A Bitcoin Treasure Chest
President Donald Trump recently said that the U.S. should start a Bitcoin treasure chest, which means the government will keep Bitcoin and other cryptocurrencies like Ethereum, XRP, and Solana[1]. This is part of a bigger plan to use digital money more and maybe even use it to solve money problems in the country[1].
A New Time for Digital Money
The U.S. starting a Bitcoin treasure chest is a big deal. It shows that the government thinks Bitcoin is valuable, which could open up new possibilities for the crypto world and how countries handle money. Keeping Bitcoin instead of selling it shows that the U.S. is starting to see it as a good long-term investment.
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Sources:
– voanews.com
– cryptoslate.com