{"id":14481,"date":"2024-06-19T10:04:54","date_gmt":"2024-06-19T07:04:54","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-magazine-ceo-criticizes-us-government-for-bitcoin-mismanagement\/"},"modified":"2024-06-19T10:04:54","modified_gmt":"2024-06-19T07:04:54","slug":"bitcoin-magazine-ceo-criticizes-us-government-for-bitcoin-mismanagement","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-magazine-ceo-criticizes-us-government-for-bitcoin-mismanagement\/","title":{"rendered":"Bitcoin Magazine CEO Criticizes US Government for Bitcoin Mismanagement"},"content":{"rendered":"<p>The United States&#8217; reserve of the first cryptocurrency should have exceeded 400,000 BTC, yet Democrats sold a significant portion of the assets at a reduced price, according to Bitcoin Magazine CEO David Bailey.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">America should have over 400,000 bitcoin on its balance sheet right now, but instead Democrats sold 187,078 Bitcoin worth $12.5 billion for a paltry $282m. They fumbled generational wealth.<\/p>\n<p>Trump should establish a strategic bitcoin reserve to stop the looting of our nation&#8217;s\u2026<\/p>\n<p>\u2014 David Bailey?? $0.65mm\/btc is the floor (@DavidFBailey) <a href=\"https:\/\/twitter.com\/DavidFBailey\/status\/1802876793109594152?ref_src=twsrc%5Etfw\">June 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He stated that the government at an unspecified time sold &#8220;187,078 BTC worth $12.5 billion for a meager $282 million.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;They squandered generational wealth. [Donald] Trump should create a strategic digital gold reserve to stop the plundering of our country&#8217;s future. America should not sell a single bitcoin, and we must reclaim what has already been lost,&#8221; Bailey added.<\/p>\n<\/blockquote>\n<p>One user in the discussion under the post <a href=\"https:\/\/x.com\/Samittin7\/status\/1802877499325497750\">noted<\/a> that the US &#8220;sold bitcoins for money that can simply be printed.&#8221;<\/p>\n<p>Another pointed out the sales of the first cryptocurrency during Trump&#8217;s presidency. However, during his term, far fewer assets were sold\u2014about 8,513 BTC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/30 the amount\u2026<\/p>\n<p>\u2014 David Bailey?? $0.65mm\/btc is the floor (@DavidFBailey) <a href=\"https:\/\/twitter.com\/DavidFBailey\/status\/1803063781636837533?ref_src=twsrc%5Etfw\">June 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/platform.arkhamintelligence.com\/dashboards\/view?dashboardID=47d779bb-3c6f-4dd3-8f8e-1f6602e2f631&#038;editMode=false\">Arkham Intelligence<\/a>, at the time of writing, US government wallets hold 217,486 BTC valued at $14.7 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXdEEDqO3ByNnZbJ4MELSKDOAXqIgpaORns05-GWB5z1rKudaxASzUswwzYAvbUjqU3jlOG6hUfA_4ssdfJI5RbRC8HrTRzUKCAxXOJZt3_bDv3IXANVKBN7Nyt9BSx9IXcnlInTAoWfdnn47s3DZ0rrZsUH?key=Ks5p25louV_rleUac2zZOA\" alt=\"Bitcoin Magazine CEO Criticizes US Government for Bitcoin Mismanagement\"\/><figcaption class=\"wp-element-caption\">US Bitcoin balance. Data: Arkham.<\/figcaption><\/figure>\n<p>In January, the United States <a href=\"https:\/\/u1f987.com\/en\/news\/us-government-to-gain-115-million-from-sale-of-silk-road-linked-2875-btc\">announced<\/a> a planned sale of 2,875 BTC confiscated from Silk Road darknet marketplace drug dealers Ryan Farace and Shaun Bridges.<\/p>\n<p>In early April, a wallet controlled by US authorities <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-sales-from-silk-road-and-ethereums-quarterly-earnings-a-crypto-market-analysis\">initiated a transfer of ~2,000 BTC<\/a> to a Coinbase Prime address.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United States&#8217; reserve of the first cryptocurrency should have exceeded 400,000 BTC, yet Democrats sold a significant portion of the assets at a reduced price, according to Bitcoin Magazine CEO David Bailey. America should have over 400,000 bitcoin on its balance sheet right now, but instead Democrats sold 187,078 Bitcoin worth $12.5 billion for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,26],"class_list":["post-14481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/14481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=14481"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/14481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/14480"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=14481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=14481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=14481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}