US Government Finding It Hard To Handle Bitcoins Stock

The federal government of the USA is in possession of plenty of Bitcoins, but still, they have a tussle with the Bitcoin industry. The US sells off the Bitcoins through public auctions that are conducted by the U.S. Marshals Service. They have possession of billions of dollars’ worth of confiscated Bitcoins. There is not much known about how the US government handles the Bitcoins.

The major issue that the government is having at the moment with Bitcoins is its huge volatility in the market. The law enforcement agencies seize and sell off several objects and precious metals through auctions. But, they only face difficulty with Bitcoins due to its huge volatility.

The government has faced criticism that it is selling off the Bitcoins at cheap prices in the auctions. Many have struck gold by purchasing the Bitcoins at the government auctions.

There is no concrete evidence about how much of Bitcoins are in the possession of the US government now. There are multiple agencies that make seizure of the Bitcoins and this make it even more confusing to find out the exact number of Bitcoins.

There are even coins that have been burnt and many that cannot be spent. So, knowing the exact number of Bitcoins with the government will be an impossible task.

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About the Author: Amy Lin

Amy hails from Kentucky, and is currently pursuing her M.D. from the Perelman School of Medicine, She is an internet wizard and has keen passion in All Things tech. She is a regular Comment contributor for BitCoionPlusNews and writes a Web column, in which she covers issues affecting people in rural areas with the ever changing technology

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