The Biggest Bitcoin Whale Of All Time [DEEP DIVE]

For years, there has been talk about when governments are going to be getting into Bitcoin, but the truth is that many of them actually already are. Most of them didn’t actually have to buy any Bitcoin though, all they had to do was find the criminals with Bitcoin and confiscate it from them. I am sure you might be able to guess which government ended up with the most Bitcoin!

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For years there's been talk about Governments are going to be getting into Bitcoin but the truth is that many of Them actually already have Most of them didn't actually have to buy Any Bitcoin either all they had to do Was find the criminals for Bitcoin and Confiscate it or maybe just call them Criminals and take it I'm sure you might Be able to guess which governments ended Up with the most Bitcoin we're gonna Tell you that today let's get it [Music] Thank you Welcome to Big Boy crypto my name is Ben And in this video we're going to talk About governments holding crypto and What plans they could have for this Emerging asset class El Salvador has been getting a lot of Attention over the years because of its Public interest into Bitcoin the country Declared Bitcoin to be legal tender on September 7th 2021 and the government Also started accumulating Bitcoin to add To its balance sheet the government of El Salvador currently has a stash of 2 381 Bitcoin which is between 50 and 60 Million at recent prices other Governments might not be as public about It and they may have not declared legal Tender like how Salvador did but a lot Of them well they still hold a lot of Bitcoin and other crypto assets China is

A great example of this even though Crypto is effectively banned for the Average Chinese citizen Chinese Government has one of the biggest dashes Of crypto with 194 000 Bitcoin and 833 000 eth there are also some governments Out there who are not totally clear About their crypto Holdings for example We all know the Russian government holds Crypto but they will only provide Estimates for how much crypto their Citizens collectively hold not any Government estimates it's not that Unusual for governments to be secretive About their crypto Holdings Bulgaria a Relatively small country is rumored to Have about 213 519 Bitcoin due to a dark web bust that Happened several years ago the Government denies that they were able to Confiscate the money but many people Believe that they did confiscation is a Very common way for governments to Accumulate crypto The U.S government has the most Bitcoin On record out of all other nation states In the world that it meant to holding Crypto and all the US governments public Bitcoin Holdings have come from hackers And dark web drug dealers that got Busted the exact number is unclear but We know that the US government holds Over 214 000 Bitcoin which over one Percent of total Supply most of the US

Government's Bitcoin Holdings come from Confiscations related to Silk Road If you weren't around for the early days And haven't read my book catching up to Crypto you might not know that Silk Road Was the first major application to take Off on bitcoin back in the very early Days of Bitcoin it was known as the Currency of the dark web where people Could buy and sell drugs weapons and Other illegal items a lot of big Bitcoin Holders from the early days were Actually drug dealers on the Silk Road But many of them were eventually Tracked Down by the US government and had their Crypto confiscated most of that money Came from two major busts the original Bust of Silk Road founder Ross ulbricht And a more recent confiscation which was Last year U.S Authority sees 3.36 Billion dollars for the Bitcoin from an Old Silk Road user named James zong for Nearly a decade zong was hiding not too Far from here in Georgia but the Government finally caught up with him The government doesn't always keep the Bitcoin they confiscate in these cases Though sometimes they auction It Off 2014 the U.S government auctioned off Nearly thirty thousand Bitcoin they were Confiscated in the Silk Road bust the Buyer was Tim Draper famous VC who was In Bitcoin very early early and he got Those 30 000 Bitcoin for just 17 million

Dollars which is about 566 bucks per Bitcoin they're still tracking down People from Silk Road and taking their Bitcoin and it's likely we haven't seen The end of these confiscations [Applause] We haven't seen the end of them selling Their Bitcoin either the US government Sold 9861 Bitcoin for almost 260 million Dollars on March 14th which was about a Month ago there's a small portion of the Bitcoin stash that was recently seized From James Zhong the government Indicated in a court filing that it Would be selling the rest of the Bitcoin Fees from him in four separate sell Orders over the next year a lot of Bitcoin has also been confiscated from Hackers bifanex was hacked back in 2016. 119 756 Bitcoin were stolen from The Exchange seemed like the hackers were Able to pull it off without getting cut However years later in early 2022 Heather Morgan and her husband ilyadel Lichtenstein were arrested for laundry Billions of dollars from the hack it's Not clear if they were alone or they Were working with someone else but law Enforcement was able to seize a large Portion of the funds that were stolen After the pair was arrested at the time Of the arrest the feds were only able to Seize 94 000 of the stolen Bitcoin only

The most interesting thing about this Case was the identity of the hacker Especially Heather Morgan who had a very Loud public Persona Morgan was a tech Writer for popular websites like Forbes And even wrote articles giving Businesses advice on how to stay safe From hackers Morgan was also a wannabe rapper that Went by many names including the Crocodile of Wall Street and rothogon Which according to our bio mint she was Like Genghis Khan but with more Pizzazz Morgan's music was a unique style that Was branded as cringe wrap which is Actually a great description so what Happens next where do we go from here The next few years governments will Start to roll out their own Central Bank Digital currencies which will push the Mainstream even further towards crypto Adoption even though crypto is in direct Competition with cbdc's and governments Well they'd rather see it go away Krueger would still have a better user Experience and offer more features as People become more comfortable with Digital money crypto will be much more Interesting and realistic to them and Once things catch mainstream adoption Like that it's really hard for the Government to shut down Crypto will also provide value to Governments too whether they like it or

Not because crypto is credibly neutral And CBDs are not this means that it's a Neutral party between Global superpowers It's not controlled by other side Governments have a hard time trusting Each other and are really comfortable Using each other's technology And they really only use in other Countries money when they have to in Those cases it is usually an uneven Situation so crypto will actually make Global trade much smoother although as We can see it can complicate issues like Sanctions it's only a matter of time Before crypto is just another part of Everyday business the government just Like the internet has become and that's All I got be blessed good boy out [Music] Foreign [Music] [Music]