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$1,700,000,000 in Bitcoin (BTC) Profits Squandered by US Government

by Daily Hodl Staff
February 12, 2020
in Regulators

Over the past six years, the US government lost approximately $1.7 billion by selling seized Bitcoin (BTC) that was linked to illegal activities, according to data from the US Marshals Bitcoin Auction real-time tracker.

The tracker, created by the chief technology officer at crypto startup Casa, Jameson Lopp, calculates the amount of money lost each time the United States Marshals Service rushed to auction off Bitcoin that was confiscated during criminal investigations.

It shows that from June 2014 to January 2020, the USMS sold 185,230 Bitcoin for a profit of $151 million. Its most recent auction placed

Source: Jameson Lopp/GitHub

That same amount of Bitcoin is now worth $1.9 billion, which means the US gave up gains of $1.7 billion by selling early.

The seized Bitcoin were sold at an average of $818 apiece. The current value of the cryptocurrency now hovers at $10,000.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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