US Govt Lost $1.7 Billion By Selling Bitcoin Too Early
$1,7 billion is a hard lesson to swallow but learn by OTHERS mistakes! It does kind of crack me up, though…Hodl! Always hodl!
The US government lost $1.7 billion by selling Bitcoin too early
“The United States is likely to have missed out on around $1.7 billion by auctioning off seized Bitcoin $BTC▼2.35% way too soon…
…US authorities have seized 185,230 BTC through criminal investigations between 2014 and now, including an auction for 3,813 BTC that runs throughout February.
Let’s say, though, that the US Marshals held onto all of the Bitcoin seized over the past six years. Pretend they smartly sold them yesterday when the price of BTC hit $10,000 once more — they would’ve netted a groin-thumping $1.85 billion.
Instead, Hard Fork re-ran Lopp’s numbers to gauge the approximate price of each BTC auctioned by the US Marshals. As it turns out, it’s probable they’ve sold Bitcoins for just $818 each, on average”