Monday, November 9, 2020

Seizing Over $ 1 Billion, DoJ Is Now The Biggest Owner Of Bitcoin

 Fans of cryptocurrencies seem to be showered with puzzles, trying to guess the next scenario after the US Department of Justice (DoJ) seized a total of $ 1 billion worth of Bitcoin (BTC) cryptocurrencies last week.


As you know, the lawsuit became one of the largest seizures of cryptocurrencies in the history of the DoJ.


Following that, the US administration now controls the 5th richest and 3rd BTC addresses if the address controlled by the crypto exchange platform is excluded.


The accumulated assets are believed to be 69,370 BTC worth $ 1,084,240,046.


The majority of players assume the confiscated assets are either going to be auctioned off by the government or replacing, disposing of, and disposing of the savings for which all three options are the best in the management of the assets.


Binance Research in its statement, DoJ action has to some extent contributed to the price movement of the last day. In fact, it is not impossible that the ownership of the property has an impact on the closure of supplies until the auction actually takes place as soon as the case is closed.



As of last Friday, BTC was trading at $ 15,362, seeing a surge of 8% in a day and 18% for a week.


Earlier the crypto industry was shocked by the transfer of 69,370 bitcoins believed to be from the black market, Silk Road for the first time in five years.


The transfer is believed to have been carried out by hackers known as Individual X who hacked Silk Road, stole bitcoin and transferred it to several wallets. However, the transaction was successfully tracked by Chainalysis who also assisted in the investigation.