There was time when governments didn't gave credit to cryptocurrencies and even thinking to find a way to ban them, which unfortunately isn't easy as the more their try the more enthusiasts Cryptocurrency have more supporters than ever. So they change strategy and now they are earning more than anyone in crypto space with their millionaire seizure of assets on crypto field.

Right on Tuesday we saw a big movement on the crypto space, where the fourth largest and richer Bitcoin wallet transferred more than 69,000 Bitcoins valued in actual price market on more than $950M and with probability to become a billion dollars just in few days as the Bitcoin value is increasing day after day.

That movement didn't pass unnoticed and many specialist in crypto started to "following the money" which took them to uncover a dirty secret involving the wallet. The amount on that wallet originally came from the dark web and Silk Road wallet was the one who sent it to that wallet.

With that discover by the blockchain analytics Firm Elliptic, was possible to take actions against the owners of the ones who had access to the bitcoins and the government seized the amount and now hold almost $1B in Bitcoin assets.

But how they got the money?

The US authorities precisely the Department of Justice DoJ, in their statement said that got access to the amount and seize all Bitcoin and the respective forks (Bitcoin gold, Bitcoin SV and Bitcoin cash) following the wallet movement and tracking it down gave them possibility to seize it from a hacker known as Mister X who had the wallet passwords.

If we note, it's possible to see that the US authorities were long time looking for the owners of the wallet and when they got known that the amount came from Silk Road darknet marketplace they knew that they must do something to hold those assets and become one of the biggest whales of the Bitcoin history.

The US authorities are now the fourth biggest wallet whale of the Bitcoin history and hold $1B in the best store of value of the planet. There was time when the same government called this asset as "pure air money" and that said by one of the leaders of the world, who actually is a biggest investor and one of the richest man on the planet the US President, Donald Trump. Of course that was his own opinion at the time and certainly he didn't invest on the market which is bad as the time he said that Bitcoin was nearly $6000 per coin and right now one coin worth more than $15,000 on the market.

The amount seized by US law enforcement agency is more than enough to put them with a big reserve fund but they will certainly put those assets in auction soon than expected to get rid of them! Actually that is bad for them as more and more private corporations are buying Bitcoins to make it their primary reserve fund, and they aren't wrong.

If we look to those companies and see how much they made in three months of investing in Bitcoin, they already made more than $50 millions in Bitcoin profits, the MicroStrategy company invested a whopping $425M in Bitcoin and made astonishing profits just in a quarter of a year, they are smart and made the choice to bet on Bitcoin and the market responded to their front and strong belief.

Now more and more companies are trying to run to grab Bitcoin and institutional money is on evasion in Bitcoin market.

The US have those assets on custody and enthusiasts are expecting to see what they will do next...

I hope they can give a proper destiny to them!

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Take care and have a wonderful weekend.