RATE Group | The US government lost $1.7 billion by selling Bitcoin too early
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The US government lost $1.7 billion by selling Bitcoin too early

11 Feb The US government lost $1.7 billion by selling Bitcoin too early

Posted at 00:30h in Bitcoin News by

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The United States is likely to have missed out on around $1.7 billion by auctioning off seized Bitcoin BTC way too soon.

Using back-dated market rates, cryptocurrency enthusiast Jameson Lopp built a handy portal to estimate the amount of money those sales have generated since 2014.

US authorities have seized 185,230 BTC through criminal investigations between 2014 and now, including an auction for 3,813 BTC that runs throughout February.

Let’s say, though, that the US Marshals held onto all of the Bitcoin seized over the past six years. Pretend they smartly sold them yesterday when the price of BTC hit $10,000 once more — they would’ve netted a groin-thumping $1.85 billion.

Instead,…

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