Unveiling the U.S. Bitcoin Treasure
The U.S. government has made a big change: it’s started a Bitcoin reserve! This means it’s taking digital money more seriously. Let’s find out more about this new reserve and where the U.S. got all its Bitcoins.
The U.S. Bitcoin Treasure
The U.S. government now has about 198,109 Bitcoins, which is worth around $17.80 billion[1]. It got these Bitcoins by taking them from people who did bad things. Instead of selling them, the U.S. is keeping them, which shows it thinks Bitcoin is valuable, like gold[2].
Where Did the U.S. Get Its Bitcoins?
The U.S. got most of its Bitcoins by taking them from people who did illegal things. One big case was the Silk Road, where the U.S. took lots of Bitcoins from a bad online market[3]. The U.S. has been doing this for a long time and has collected a lot of Bitcoins.
Should the U.S. Have Sold Its Bitcoins?
In the past, the U.S. sold many of its Bitcoins. Between 2014 and 2023, it sold about 195,091.75 Bitcoins for around $366.49 million[3]. If it had kept them, they would be worth about $17.6 billion now[3]! This shows that keeping Bitcoins can be a good idea.
A New Plan: A Bitcoin Reserve
President Donald Trump made a new plan to create a Bitcoin reserve[2]. This reserve will not only have Bitcoins but also other digital money like Ethereum, XRP, and Solana[2]. The U.S. wants to use digital money more and maybe even use it to solve money problems[2].
A New Time for Digital Money
The U.S. starting a Bitcoin reserve is a big moment for digital money. It shows that the U.S. thinks Bitcoin is valuable and can be used for a long time. This opens up new possibilities for the crypto world and how countries use money.
—
Sources:
– voanews.com
– cryptoslate.com