What is the US government doing with bitcoins?

As a result, the U.S. Marshals Service, which is responsible for sales of the confiscated bitcoin, has become a major player in cryptocurrencies. (See also: US Marshals To Auction Seized Bitcoins .) But little else is known about the government’s handling of bitcoins.

What is the Swedish government doing with Bitcoin?

The Swedish government made digital currency headlines in the fall of 2017 when it decided to auction off some seized bitcoin as well. The value of the seized assets were significantly smaller than those in the Bulgarian incident, as the Swedish Kronofogden announced plans to sell just 0.6 BTC, worth about $3,200 at the time.

Is bitcoin backed by a commodity?

Like the US dollar, Bitcoin is not backed by a physical commodity, and instead derives its value in other ways. Since Bitcoin doesn't have a centralized entity that enforces its value and it isn't backed by any commodity, many people mistakenly believe that this means Bitcoin doesn't have any value.

What if the government sold its bitcoin stake?

Had the government sold its bitcoin stake when the price of the token peaked above $67,000 last month, coffers would have been a whole lot bigger than if they liquidated at today’s price. Once a case is closed and the crypto has been exchanged for fiat currency, the feds then divvy the spoils.