The Bull Market Genius is never caught off guard, but here's a juicy tidbit that might raise some eyebrows—even the seasoned ones.
Would you believe it if I told you that the biggest Bitcoin hoarder is none other than the U.S. government? That's right, the land of the free is sitting on a cool 213K BTC, worth about a whopping $14 billion at today's price of $66K per BTC. And guess what? Almost all that treasure comes from seizing the loot of those not-so-clever criminal minds.
According to a report by CoinGecko (as of the end of July 2024), governments worldwide clutch about 2.6% of the BTC circulating supply, tallying up to about 471K BTC, or $31.1 billion in plain old USD. This means Uncle Sam holds about 45% of all the BTC in government coffers—mind-blowing, right?
But let’s not forget those savvy Bulls in China, quietly amassing 190K BTC, which represents about 40% of the government stash (also, mostly from seizures, mind you).
While this Genius Bull beams with pride seeing the U.S. leading the charge, it’s a bit of a nail-biter when the paper-hoofed Bulls in places like Germany decide it’s time to unload, causing a market tumble of over 15%. But not to worry—us sharper Bulls are always ready to swoop in and scoop up the bargains. After all, in the world of crypto, it’s the Bull Market Genius and friends who often get the last laugh!
Source: https://www.coingecko.com/research/publications/government-bitcoin-holdings Show Less
