""I am Secretary of the Treasury. I do not have the authority to do that,""
""That is an asset of the US government. The asset seizure, that $1 billion of bitcoin was seized, $500 million was retained. And that $500 million has become over $15 billion.""
""We are retaining seized bitcoin,""
""That is an asset of the U.S.""
The U.S. Treasury lacks authority to order banks to purchase bitcoin or to allocate public funds into crypto assets. Historical bailouts have protected large financial institutions during market collapses, prompting questions about whether similar interventions could apply to bitcoin. Government exposure to bitcoin comes solely from law enforcement seizures, and retained seized bitcoin is treated as a U.S. government asset. A reported seizure of roughly $1 billion led to retention of about $500 million in bitcoin, and that retained amount has reportedly appreciated to more than $15 billion, creating a strategic government bitcoin holding.
Read at Bitcoin Magazine
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