According to the new Nansen report, as of March 12, the US government controls 195,34 Bitcoin.
The government’s encryption portfolio also includes $ 4.6 million worth of Etherrium (ETH), USDC, and assets DAI and AUSDC_V2, which gives stable recons and yields.
The newly proposed bill introduced by a spokesman for Nick Begich can dramatically increase the government’s stake. House Strategic Bitcoin Bill aims to acquire a million BTC, which suggests about 5%of Bitcoin’s total supply over the next five years. If you pass, the dollar of purchase is only $ 110 billion at the market price today.
Implications for the market
If the bill is passed, the US government’s own Bitcoin will surpass 1.1 million BTC, which is estimated by Bitcoin’s mysterious producer, Satoshi Nakamoto. This has a significant impact on market liquidity and price stability, which can increase the value of Bitcoin and reconstruct market epidemiology.
But this level of ownership raises concerns about the centralization of traditional assets. Large acquisitions can make the government a price set in the Bitcoin market, and some argue that they oppose the original spirit of cryptocurrency.