The US government collects a huge amount of BTC? Experts say crypto stocks are being auctioned off


The US government could be hiding huge stocks of BTC (Bitcoin). However, the United States authorities do not steal them in any way.

(Photo: Photo by NICOLAS TUCAT / AFP via Getty Images)
The Bitcoin digital currency logo is pictured on the front door of an ATM in Marseille, southern France, January 8, 2021. (Photo by NICOLAS TUCAT / AFP)

Their Bitcoin and other cryptocurrencies were acquired from illegal digital coin miners. Most of the US states are currently using crypto crime fighting tools, which were built cryptographically.

“The government is generally more than a few steps behind criminals in innovation and technology,” said former federal cybercrime attorney Jud Welle.

However, the cybercrime expert explained that US authorities would soon have better methods of seizing illegally acquired cryptos. But, the improvements would take another three to five years.

US collects huge cryptos and sells them at auction

According to CNBCThe latest report of, the confiscated Bitcoin and other digital tokens were auctioned off to various companies. In 2018, the US government auctioned around 500 BTC to Riot Blockchain, a Bitcoin mining company in the United States.

The US government collects a huge amount of BTC?  Experts say crypto stocks are being auctioned off

(Photo: Photo by MARTIN BUREAU / AFP via Getty Images)
This photograph taken on April 26, 2021 in Paris shows a physical imitation of the Bitcoin cryptocurrency displayed on US dollar banknotes. (Photo by Martin BUREAU / AFP)

Also Read: Crypto Scammer Hacks Amazon Account, Leaving Victim’s Bill for $ 45,000

On the other hand, the US authorities also sold another stock of BTC worth around $ 56 million. The Bitcoin tokens collected were part of the recent Ponzi scheme case, which involved Bitconnect, a cryptocurrency lending program.

The accumulated funds were then paid to the victims of the malicious campaign. If you want to learn more about the history of US government crypto auctions, just visit this site. link.

People with the most cryptos

Since the US government collects illegally mined cryptocurrencies, this state body is considered one of the most digital token holders.

Besides the US government, there are also other people who legally collect huge amounts of crypto. Contractor provided some of the names of the wealthiest people who own blockchain tokens. These include the following:

  • Brian armstrong
  • Tyler and Cameron Winklevoss
  • Micrée Zhan
  • Jed mccaleb
  • Joseph lubin
  • Changpeng Zhao
  • Satoshi Nakamoto
  • Sam Bankman-Fried

In other news, Elon Musk announced that he is now ready to make Dogecoin one of his payment methods. Meanwhile, Visa’s new crypto consulting practice has been rolled out. This blockchain innovation is expected to help current and new digital coin investors.

For more updates on crypto and other related topics, always keep your tabs open here at TechTimes.

Associated article: UK watchdog bans crypto ads, claiming they don’t explain the risk of investing in digital coins! eToro and more concerned

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Written by: Griffin davis

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