The U.S. government was recently spotted transferring $40 million worth of Bitcoin (BTC), which was confiscated two years ago. On-chain data platform Arkham Intelligence shared the update in a post on X, noting that the seized Bitcoin belonged to two Estonian citizens.
U.S. government’s extensive crypto portfolio
According to the information shared by Arkham, the U.S. government now has approximately $14.3 billion worth of digital assets in its treasury. Notably, Bitcoin and Ethereum (ETH) have the top spots in the government’s crypto portfolio, with 212,872 BTC and 45,654 ETH recorded.
The recent Bitcoin transfer comes only a few days after the United States District Court for the District of Maryland issued an order to forfeit and sell Bitcoin worth about $130 million belonging to Silk Road. Individuals or institutions with a stake in the forfeited assets have been given a 60-day window to file a petition with the court contesting the forfeiture or establishing a claim.
In a related development on the Bitcoin market, $497.14 million worth of BTC was recently moved into a hot Coinbase International wallet. The transfer, identified by Whale Alert, came from a secret wallet labeled “12BKk.”
Government’s attention to crypto regulation
It is worth mentioning that the increased attention to crypto regulation by different governments was brought about by the growing adoption of crypto. People are now seeing crypto as an alternative form of investment that could generate high returns.
While the U.S. government is making bold moves in terms of regulating crypto, other governments are not being left behind. For instance, investigators in Saxony, Germany, recently seized the highest quantity of Bitcoin ever confiscated in the country.
As revealed in an earlier report from U.Today, the Dresden Public Prosecutor's Office and the Saxony State Criminal Police Office stated that about 50,000 BTC worth an estimated €2 billion was seized in mid-January.