Recently uncovered information confirms that the U.S. Marshals Service holds a significant amount of Bitcoins, which may impact the cryptocurrency market.
Bitcoins in Government Custody
According to data revealed through a Freedom of Information Act (FOIA) request, the U.S. Marshals Service holds 28,988 Bitcoins, valued at approximately $3.4 billion at current prices. These Bitcoins were obtained through confiscations linked to criminal investigations.
Data from The Rage
The information regarding these Bitcoin holdings was provided by investigative platform The Rage, which obtained the data through a FOIA request. Despite the government conducting auctions for seized assets over the years, it still retains a large amount of Bitcoin reserves.
Market Impact
The existence of such a large Bitcoin reserve under government custody raises questions about potential future sales and their impact on the market. Some analysts believe that any sudden liquidation could put downward pressure on BTC prices, while others view it as a sign of Bitcoin's legitimacy and growing integration with institutional frameworks.
In light of the new information regarding Bitcoin held by the Marshals Service, the public will closely monitor government actions. It is essential to consider how this may affect the market in the future.
