Just days after The US Treasury secretary Scott Bessent announced that the country which is actually setting up a bitcoin strategic reserve is not looking to buy bitcoin. With the intent of actually keeping the 200k bitcoin which is heavily reported to seized bitcoins in their possession as reserve.
Just after that a blockchain analytics platform Arkham reported that $300k value of coins have been moved to the government account from coinbase and it was reported to be siezed from an Hacker
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Even though this is not bitcoin but is this the new method of which US are trying build their own reserve by holding siezed assets
My question is; is this actually right? I think this assets are supposed to auction or sold off?
Does Not buying bitcoin actually signifies that they don’t believe in bitcoin at all and are only fulfilling campaign promises.
I believe that if there is a part of the asset that's collected via scamming people, the government should continue the investigation to find victims and give them back their money. They are getting very good at blockchain analysis, so they should be good at finding victims, too. Although I highly doubt they'll do this, it's a good idea to hold them because they are going to buy Bitcoin anyways, so why should they sell them? Btw I don't know if the law requires seized assets to be sold. This topic can be discussed very well by those who finished law at University.
Yes it's their right!
We support communities by transferring certain types of forfeited assets to state, local and nonprofit organizations. Through the Operation Goodwill program, forfeited real or personal property of marginal value can be transferred to state or local governments in support of drug abuse treatment, drug crime prevention and education, housing, job skills and other community-based public health and safety programs.
Lots of money is laundered and unwisely spent that way. From my experience, the majority of similar organisations don't do things as we imagine they'll be doing. I have a neighbour who was working in a charity and as he told me, most of the money isn't really spent on those who need it but on those who are in charge of the organisation.