Recent rumors about the Biden administration potentially selling all its Bitcoin have intensified after Donald Trump promised at a Bitcoin conference in Nashville that if he is re-elected, his administration would keep all the Bitcoin currently held by the U.S. government.
“If I get elected, my administration will make it a policy to keep 100% of all Bitcoin the U.S. government currently holds, as well as any future acquisitions,”
Trump stated.
On Monday, Peter Schiff, a Bitcoin critic and gold advocate, added to the speculation on social media, suggesting that if Trump really intended to use the seized Bitcoin to create a “strategic” reserve, he would keep this plan secret until he took office. Schiff believes that the Biden administration, knowing this, would likely sell all the Bitcoin before Trump assumes office.
On Monday, the U.S. Department of Justice (DOJ) transferred 29,799.99 BTC to an unknown Pay-to-Witness-Public-Key-Hash (P2WPKH) wallet. According to Arkham Intelligence, after this transfer, the U.S. government wallet still holds 183,439 BTC, worth over $12 billion. The funds were split between two Bech32 Bitcoin addresses: one with 10,000 BTC and the other with 19,799.99 BTC. The firm speculated that the 10,000 BTC might have been sent to an institutional custody service.
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