U.S. government’s foregone profits from selling bitcoins exceed $5 billion

The U.S. government forewent at least $5.1 billion in profits from the ‘hasty’ sale of bitcoins seized from criminals. This was highlighted by Jameson Lopp, chief technology officer of the Casa startup.

Did you know that the US Government has seized and sold over 185,000 BTC since 2014? See how much better off they would have fared had they decided to HODL: https://t.co/jn6hAMbj1I

— Jameson Lopp (@lopp) March 20, 2023

He cited the statistics published by the United States Marshals Service (USMS) статистику, according to which since 2014 authorities have seized and sold at auction more than 185,230 BTC for $151.5 million.

The current value of this quantity of bitcoins stands at $5.2 billion.

“Look how much better off they would have fared if they had decided to HODL,” wrote Lopp.

The majority of the bitcoins listed relate to funds seized from the closed darknet marketplace Silk Road. USMS confiscated from the platform’s founder Ross Ulbricht more than 144,000 BTC, whose value at the time was estimated at $122 million. The agency also gained control of 29,000 BTC from various wallets linked to Silk Road.

The last item in the list is 69 370 BTC (approximately $1 billion at the time of seizure), confiscated in November 2020 by the U.S. Department of Justice. As they have not yet been liquidated, their current value is not determined.

Additionally, the list includes 500 BTC seized by authorities in the Northern District of Ohio in a fraud case, and a number of other assets.

As of November 2020, the address containing 69 370 BTC from Silk Road was considered the world’s fourth-largest holder of bitcoin. It is now на восьмом месте.