🆚 Comparison of Bitcoin Holdings by the UK and US Governments: UK $6 Billion, US Nearly 1% of Total Bitcoin
According to the latest data from Arkham, the UK government currently holds Bitcoin worth approximately $6 billion, totaling 61,245 Bitcoins. These assets originate from the law enforcement seizure in 2021 against money laundering suspect Qian Zhimin, and have been held for about 3.5 years.
This data also aligns with previously disclosed information by Arkham, indicating that the Bitcoin held by the UK government mainly comes from a Chinese money laundering case involving amounts as high as 43 billion yuan, which is also the largest Bitcoin money laundering case in the UK to date.
On the other hand, the US government currently holds over 198,000 Bitcoins, valued at over $19 billion. These Bitcoins primarily come from the Silk Road, the Bitfinex hacking incident, and assets seized in law enforcement actions involving individuals like James Zhong.
Currently, the US government is one of the largest holders of Bitcoin among governments worldwide, with its holdings accounting for nearly 1% of the circulating supply of Bitcoin.
🗣️ Conclusion:
The accumulation of Bitcoin holdings by the UK and US governments through law enforcement actions in the cryptocurrency field highlights their potentially significant impact on the market.
These actions may be interpreted as a form of recognition of Bitcoin's legitimacy, and could have a positive effect on market liquidity and price stability.
However, this also raises discussions on how the government plans to manage these assets, whether there are plans to sell them in the future, and the potential impact of these actions on private investors.
💬 What does the large Bitcoin holding by the UK and US governments mean for the cryptocurrency market? What insights do these actions provide for private investors and market participants? How do you view the role of government in the cryptocurrency market?
