of cryptocurrency by the U.S. government has worked out to be a windfall for taxpayers.
The bitcoins are still in the government’s possession, for bureaucratic reasons. And in the year since, bitcoin hasThat’s down a bit from when bitcoin was at its all-time high of $67,000 last month. But with bitcoin hovering at around $55,000 — up from roughly $18,000 in November 2020 — Uncle Sam has still done pretty well.
Most of the government’s handling of cryptocurrency has been far less remunerative. In fact, it’s mostly a story of lost opportunities. In those days, it wasn’t easy to sell Bitcoin, a digital currency created with blockchain technology and stored in so-called digital wallets. The government was worried there would be no buyers, said Sharon Cohen Levin, who led the Money Laundering and Asset Forfeiture Unit in the U.S. Attorney’s Office for the Southern District of New York for two decades.
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