- Trump gave an inspiring address at the Bitcoin 2024 conference in Nashville.
- As of April 2024, the US government reportedly has 212,847 bitcoin.
The goal of Donald Trump’s administration is to establish the US as the global leader in cryptocurrency. During his inspiring address at the Bitcoin 2024 conference in Nashville, Tennessee on July 27, the former president made these and other promises. Cryptocurrency proponents, meanwhile, may have been confused by the Republican candidate’s remarks.
While much of Trump’s speech was devoted to the idea that Bitcoin and its community may have a good influence on the United States, he did provide some details. If re-elected, he has pledged, among other things, that the United States would hold on to its present Bitcoin hoard.
Substantial Holdings
As of April 2024, the US government reportedly has 212,847 bitcoin. About $14.4 billion is the overall worth as of July 29. The Bitfinex crypto exchange is a source of some of these funds. Around 94,636 BTC were confiscated by the US authorities in 2022 from wallets linked to hackers who confessed to stealing 119,754 BTC from the exchange in 2016.
After those coins are removed from the government’s possession, the United States government would have around $8 billion worth of Bitcoin. Apparently, the Bitfinex breach is still under investigation.
Since the seizure in 2022, there has been very little news. As late as February 2024, the US moved hack-related assets across wallets. However, the actual purpose of these transfers is yet unknown.
At the time of writing, bitcoin is trading at $67,900, down 0.59% in the last 24 hours as per data from CMC. The price of bitcoin is facing minor correction after clearing the $69,000 level on July 27.
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