The US Govt owns over 200K Bitcoin.

That's nearly 1% of all bitcoins.

How did they get so much BTC?

It mostly came from seizures.

Nov 2020 Silk Road Seizure - 69,369 BTC

Jan 2022 Bitfinex Hack Seizure - 94,643 BTC

Mar 2022 James Zhong Seizure - 51,326 BTC

In a recent report, Glassnode tracked around 40,000 BTC that were moved internally.

So we know for sure that it isn't lying dormant in some wallets under piles of paperwork.

This makes the US govt a pretty big whale in the list:

Grayscale Cache: 643,572 BTC

Binance’s bitcoin cold wallet: 248,597 BTC

US govt (consolidated): 205,515 BTC

Mt Gox cache: 140,000 BTC

Microstrategy: 132,500 BTC

So what do they do with all the seized crypto assets?

Back in 2014, the FBI seized a huge amount of BTC when they originally took down the Silk Road.

Later that year the US Marshals held auctions to sell off the crypto assets.

But that was a different time.

Today, if I were the US govt, I would HODL like my life depends on it—because most probably it does.