U.S. Government transferred 29,800 Bitcoin (BTC) valued at $2.02 billion to a new wallet just minutes ago.
As of now, the U.S. Government holds a total of 179,155 BTC, amounting to approximately $12.14 billion. This impressive sum stems largely from assets seized by the Department of Justice (DOJ) in 2020. The Bitcoin was associated with the notorious Silk Road marketplace, and its seizure marked one of the most significant crypto confiscations to date.
Following the seizure, the DOJ sought the official forfeiture of the cryptocurrency, which was valued at over $1 billion at the time. Despite fluctuations in Bitcoin’s market value, the U.S. government’s crypto holdings have appreciated significantly. According to Arkham Intelligence, the current value of these holdings exceeds $12 billion.
This development coincides with recent comments from former U.S. President Donald Trump. Over the weekend, Trump reiterated his willingness to consider commuting the sentence of Silk Road founder Ross Ulbricht if re-elected president. Ulbricht, who was convicted for his role in operating the Silk Road, is currently serving a life sentence without the possibility of parole.
