Finst

Here's how much Bitcoin the U.S. government now wants to sell

The U.S. wants to sell the seized Bitcoin.

By Mike Hesp
• 1 min read
Here's how much Bitcoin the U.S. government now wants to sell

The U.S. wants to sell the seized Bitcoin. In March, 9,800 BTC were sold already; now the bulk is coming.

From court documents show that the U.S. government on March 14 this year sold about 9,800 BTC at a price of $215 million. They now plan to sell the remaining 41,490 BTC.

These will be sold in four separate batches over the course of the year, the document says. That means roughly $1.1 billion in selling pressure entering the Bitcoin market. The coins originally came from the Silk Road darknet marketplace. Last year the U.S. authorities announced they would seize the cryptocurrencies.

Through such confiscations, the U.S. government has now become one of the biggest Bitcoin whales of all. They reportedly own about 215,000 BTC — about 1 percent of the total supply.

Not far behind: MicroStrategy, Michael Saylor’s tech company. It now owns 138,955 BTC after its recent purchase. That puts one in every 150 BTC in the groups hands.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.