Governments Selling Bitcoin!? What Does It Mean For BTC!?
Published: 2024-07-28
Status:
Available
|
Analyzed
Published: 2024-07-28
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
A Trump presidency with a crypto-friendly VP could lead to positive crypto regulations in the US.
"the likely next president of the United States has come out in support of the industry and appointed a VP who seems to be even more crypto-friendly if Trump returns to the White House that should in theory pave the way for positive crypto regulations in the world's largest economy"
Pending
Starting January 1, 2025, central banks will be allowed to hold up to 2% of their reserves in cryptocurrency.
"as of January the 1st 2025 central banks will be permitted to hold up to 2% of their reserves in crypto"
Pending
Governments holding seized crypto are likely to sell it, potentially suppressing the market, similar to recent sales by the German government.
"any government holding seized crypto including those not mentioned in today's video is likely to sell at some point depending on the government in question this could suppress the markets in much the same way as we've seen with the recent sales from the German government"
Pending
The US government holds over 213,000 BTC and other cryptocurrencies, totaling approximately $4 billion.
"the US government holds over 213,000 BTC although different sources suggest different amounts due to which wallets are included in the data anyway Arkham's data suggests that the US government's crypto Holdings also include 750 wrapped BTC 50,000 eth 40,000 BNB 10 million usdc and over 121 million usdt bringing its total crypto Holdings to a whopping $4 billion"
Pending
The UK holds over 61,000 BTC, seized from a citizen convicted of laundering funds from a Chinese investment fraud.
"the dear old United Kingdom which holds over 61,000 000 BTC this crypto was seized by London's Metropolitan Police from a UK citizen named Gian Wen who was found guilty of laundering funds from an investment fraud operation that took place in China in 2018"
Pending
The Chinese government may still hold over 190,000 BTC, seized from the PlusToken scam project.
"another known Bitcoin whale is the Chinese government which at one point held over 190,000 BTC and it's possible that it's still sitting on that stack to this day this BTC was seized from the plus token scam project"
Pending
Ukrainian public officials collectively declared ownership of over 46,000 BTC.
"the Ukrainian government released a data report that indicated that public officials owned over 46,000 BTC between them"
Pending
The US government sold over $360 million worth of Bitcoin across 11 auctions between 2014 and 2023.
"between 2014 and 20123 over $360 million of BTC was sold across 11 different different auctions"
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The UK saw record-breaking crypto seizures in July 2021, with police confiscating £180 million related to a money laundering investigation, following a previous £4 million seizure in June 2021.
"in June 2021 the Metropolitan Police also confiscated around4 Million worth of crypto as part of a money laundering investigation although it isn't clear what crypto was actually seized at the time this marked a record for the largest ever seizure of crypto Assets in the UK that record was beaten just a few weeks later though because in the following month of July police then seized a further 180 million worth of crypto related to the same investigation"
Pending
In February 2022, the UK government seized NFTs for the first time as part of a tax fraud investigation.
"February 2022 also saw the UK government seize nfts for the first time ever in an investigation involving tax fraud"
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In July 2021, Ukrainian police discovered a warehouse with nearly 5,000 Bitcoin mining units, including 3,800 PS4 consoles, involved in electricity theft.
"in July of 2021 a strange turn of events unfolded as Ukrainian police raided a supposedly empty Warehouse to find that it contained nearly 5,000 Computing units mining Bitcoin including around 3,800 PS4 consoles"
Pending
The German government has sold off its Bitcoin holdings, causing market concern.
"the German government has just finished selling off its BTC this Uber dump had everyone concerned"
Pending
The US government moved almost 4,000 BTC to Coinbase in June of the current year (2024).
"in June of this year when the government moved almost 4,000 BTC to coinbase"
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It is believed that most of the cryptocurrency seized by China from the PlusToken scam has already been exchanged and forfeited to the national treasury.
"while it's not 100% clear if China still holds this crypto it's believed that most if not all of it has already been exchanged anyway as part of the seizure ruling the court said quote the seized digital currencies will be processed pursuant to laws and the proceeds and gains will be forfeited to the National treasury"
Pending
The US Justice Department will await further regulatory clarity on cryptocurrency before making significant decisions.
"the justice department will wait for more regulatory Clarity on crypto in general before making any major moves"
Pending
China's crackdown on crypto mining and trading is intended to prevent citizens from these activities, although ownership remains legal.
"the Crackdown was intended to prevent Chinese citizens from Mining and trading crypto but ownership is still legal"
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There is evidence suggesting Chinese state-owned mining operations, with Bit Origin, a Bitcoin mining operation near a US Pentagon-supported facility, being traced back to the Chinese government.
"there has been speculation about Chinese state-owned mining operations well it turns out this could very well be more truth than speculation case in point in October last year the US was keeping a close eye on bit origin a Bitcoin mining operation set up near a Microsoft facility that supported the Pentagon as it turns out it could be directly traced back to the Chinese government"
Pending
A new UK law effective from April grants the NCA and police the authority to seize, freeze, and destroy criminal cryptocurrency, with victims needing to apply for its return.
"a new UK law that came into effect from April this year basically the National Crime agency or NCA and the police have been authorized to quote seize freeze and Destroy cryptocurrency used by criminals police can transfer these illicit funds to a wallet under their control and fraud victims will have to apply to have it returned"
Pending
Ukraine received over $225 million in crypto donations for military and humanitarian aid, including significant amounts in USDT, ETH, and BTC.
"many people donating various cryptocurrencies to help Ukraine with military and humanitarian funding while it's unclear how much was raised in total a coindesk article from July last year suggested that Ukraine had raised over $225 Million worth of crypto from supporters around the world These funds included $83 million in usdt $79 Million worth of eth and $41 Million worth of BTC"
Pending
There's a possibility that governments might start buying Bitcoin, with central banks potentially printing money to acquire enough to make it a reserve currency.
"there's always the possibility ability that governments could decide to buy more a lot more in fact because their central banks would have the power to print enough money to buy up enough BTC to make it a true Reserve currency"
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Governments are more likely to mine Bitcoin than to purchase it.
"governments would probably opt to mine BTC rather than buy it"
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Governments might attempt to seize more Bitcoin from citizens by making self-custody illegal.
"it's even possible that they would try to seize more BTC from their citizens by making it illegal to self-custody"
Pending