If Uncle Sam Didn’t Sell His Bitcoins, He’d Get $ 565 Million Now
The US government would have had a $ 565 million bitcoin if it hadn’t sold its Bitcoins since 2014 by selling auctions.
According to a report by Bitcoin Seized, Uncle Sam (USA) would now have $ 565 million worth of Bitcoins if the HCOs had captured the Bitcoins that he had seized in various operations over the past four years.
$ 565 million
The US government received $ 136 million from the sale of Bitcoins that it had acquired over the past years. But those Bitcoins would be worth $ 565 million today if it hadn’t been sold.
The US government sold 50,000 Bitcoins in an auction in December 2014. Bitcoin was trading at $ 375 in those days. At that time, the government sold $ 50,000 Bitcoins and generated $ 19 million in revenue. The current value of 50 thousand Bitcoins sold is around 200 million dollars. One of those who own the Bitcoin with the auctions of the US government is a billionaire investor, Tim Draper.
Bitcoins, seized since 2014, are being sold with auctions organized by the Marshals Service, a federal security unit affiliated to the US Department of Justice. US Marshals Service claims that revenues from sales are distributed to victims and affected third parties in cases where such Bitcoins were seized.
The majority of Bitcoins, which Marshals Service sells by auction, were seized through the dismantling of criminal organizations. The US government only seized 174,000 BTC in the Silk Road operation. There is not much information about who bought these Bitcoins from US Marshals Service. But the billionaire investor, Tim Draper, had publicly announced that he had purchased Bitcoin by auction:
The price of a Bitcoin was $ 618. At the last moment I changed my mind and decided to make a bid higher than the market price. I bought all the Bitcoins by offering $ 632.