Buying bitcoin cheap from the government

October 17, 2023

Dear Reader,

The U.S. government holds a stash of about 194,188 BTC.

Worth approximately $5.3 billion.

Crypto firm 21.co says that these are "lower-bound estimations".

Since publicly available data is almost always inaccurate at best.

How did Uncle Sam come about so much BTC?

Seizures… seizures… and MORE seizures.

Let's see…

In November of 2020, the U.S. government seized 69,369 BTC from the infamous Silk Road.

(Has someone made a movie about that yet?)

The Bitfinex Hack seizure in January 2022 fetched 94,643 BTC.

Then, of course, you had the James Zhong (who is that?) seizure in March 2022.

Where an additional 51,326 BTC were confiscated.

Nice.

So, where is all of this BTC loot kept?

Naturally… offline.

After all, Uncle Sam does not want his "loot" to get looted.

The Justice Department and the Internal Revenue Service hold the goods in hard wallets and… from time to time… allow the sale of said BTC at government auctions.

Where you could get a steal of a deal.

Note: That's how billionaire Tim Draper bought 30,000 BTC back in 2014.

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Regards,

Max K.
Markets Pro Team