US government among largest Bitcoin hodlers with over $5B in BTC: Report

The United States government has become one of the largest Bitcoin (

Seized assets do not instantly belong to the government. The U.S. Marshals Service, the principal agency charged with selling seized property, only receives possession of the seized Bitcoin after a court issues a definitive forfeiture judgment.

The U.S. government also sells a portion of the seized Bitcoin from time to time through an auction system based on court liquidation orders. The most notable government auction dates back to 2014, when billionaire Tim Draper bought 30,000 BTC from U.S. government auctions in 2014.

However, in recent years, the U.S. government has turned to crypto exchanges to sell seized Bitcoin over public auctions. One such sale came in March earlier this year when the government sold 9,118 BTC on Coinbase, as confirmed through a public filing.

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Magazine: US enforcement agencies are turning up the heat on crypto-related crime