You Won’t Believe What the US Government Did with Bitcoin (It’s Not What You Think!)

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In a most curious turn of events, the U.S. government has once again dipped its toes into the turbulent waters of cryptocurrency, moving a staggering $8 million worth of Bitcoin. Who knew Uncle Sam had a crypto portfolio, right? 😏

But wait, that’s not all! The vast majority of that Bitcoin fortune—like a typical government move—was swiftly funneled into a change wallet. A move so elegant, it could only be described as a “strategic maneuver” by those who believe in the mystique of bureaucracy. 💼

As for the price of Bitcoin? Well, it’s currently perched on the lofty perch of $87,326, making the government’s digital treasure feel like a very lucky (albeit accidental) windfall. Who says the U.S. government doesn’t make good investments, right? 🍀

But they didn’t stop there! They’ve also shifted $1.77 million worth of Ethereum (ETH)—because why not spread the love? Some poor Ethereum hodlers might be wondering what’s next in this crypto chess game. 😬

Earlier this month, there were whispers of an address associated with the government moving some Avalanche (AVAX) tokens, but who’s counting at this point? The government is clearly playing a game of “collect them all.” 💎

Interestingly, court documents from a previous era (March 2023, to be precise) revealed that the U.S. government sold off a massive $215.5 million worth of Bitcoin. These coins had been seized from Silk Road hacker James Zhong—who, let’s be honest, probably didn’t plan on his stash being liquidated by the very government he tried to evade. 😅

And while some folks were still scratching their heads over that, Arkham Intelligence, the modern-day digital sleuths, used some fancy on-chain data to estimate that the U.S. government sold another $2.24 billion worth of Bitcoin from June 2023 to December 2024. You know, just casual transactions. 🤷‍♂️

This year, the U.S. government decided to get a little more serious about its crypto holdings, establishing a “strategic Bitcoin reserve.” Ah yes, a stash of forfeited cryptocurrency, because who wouldn’t want to diversify their digital assets portfolio? On top of that, they’ve even gone and created a separate stockpile for altcoins. Just in case the government gets a little too fond of those obscure coins. 💰

And if you think this is the end, think again. According to Bloomberg, there’s a 30% chance that the U.S. government might even buy more Bitcoin in 2025. Well, it’s never too late to get in the crypto game—unless you’re too busy moving billions around. 🤑

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2025-03-27 23:31