• The US government reportedly holds over 194,188 BTC, amounting to a staggering $5.5 billion.
• This accumulation represents nearly 1% of Bitcoin’s entire circulating supply.

US Government’s Immense Bitcoin Reserve Unveiled

The ever-evolving digital ledger known as the blockchain has unmasked a surprising new titan in the Bitcoin realm: the US government. Recent on-chain analyses by the experts at 21.co, the overarching entity behind 21shares – the globe’s preeminent crypto exchange-traded product (ETP) issuer, divulge that the US government is poised as a paramount Bitcoin holder.

With a possession of 194,188 BTC, whose valuation exceeds $5.5 billion as per the current market data, the US government’s stake in this premier digital currency is nothing short of astounding. To put this in perspective for those less versed in the crypto universe, this cache signifies close to 1% of the entire Bitcoin available in circulation.

Delving Deeper: The Government’s BTC Acquisitions

It’s imperative to note, as per 21.co’s analysts, that their revelations provide only the “lower-bound estimation” of the holdings of the US administration. The basis of this data emerges from publicly accessible details, particularly emphasizing the three major Bitcoin confiscations by the government post-2020.

Cumulatively, since 2020, official reports cite that the government has seized an upwards of 215,000 BTC. Nevertheless, a portion of this accumulated Bitcoin underwent transactions in the early phases of this year. A significant observation by PeckShield, a notable name in blockchain security, underlines a massive movement in March where the government dispatched 9,826 BTC (approximated at $217 million) to the leading US cryptocurrency exchange, Coinbase.

In a subsequent transactional observation, an additional 39,175 BTC, valued around $867 million, was relocated to a pair of novel addresses. These new addresses, upon scrutiny, seem to be under internal control and exhibit no clear associations with existing crypto exchanges.

As of the current market status, Bitcoin trades at an impressive $28,384. Though it has witnessed an appreciable growth of about 71% since the dawn of 2023, Bitcoin still lags about 59% behind its pinnacle value of over $69,000, achieved in November 2021.