WSJ: The U.S. government holds more than $5 billion in Bitcoin, and the sale is not affected by the market but is determined by legal procedures

Odaily Planet Daily News The U.S. government has seized about 200,000 Bitcoins from cybercriminals and darknet markets, worth more than $5 billion. These Bitcoins are primarily stored offline in hardware wallets controlled by the Department of Justice, IRS, or other agencies. The United States is notoriously slow to sell Bitcoin. In response, Jarod Koopman, executive director of the IRS's Cyber ​​and Forensic Services Division, said: "We do not participate in market transactions. Our actions are basically determined by the timing of the legal process." According to an analysis of public documents by encryption company 21.co, the U.S. government has seized more than 200,000 Bitcoins in the last three times alone. Even though about 20,000 Bitcoins have been sold, its holdings are still worth more than $5 billion. It is reported that the legal process may take several years from the seizure of illegal Bitcoins to the receipt of a final order to liquidate them. (WSJ)