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
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.
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Featured Image: Shutterstock/Diego Cervo
