U.S. Government Confirms No Sale of Seized Bitcoin from Samourai Wallet
DOJ Clarifies Bitcoin Seizure Status
The U.S. government has officially stated it has not sold Bitcoin seized from Samourai Wallet, refuting earlier allegations of asset liquidation against federal policy. Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, confirmed that the Bitcoin remains unsold and is part of the Strategic Bitcoin Reserve.
DOJ Addresses Market Concerns
Reports had suggested prosecutors in the Southern District of New York had liquidated Bitcoin linked to Samourai Wallet, potentially breaching Executive Order 14233, which mandates holding rather than selling seized Bitcoin. The DOJ clarified that the assets remain under government control, countering claims of a market sale.
On-Chain Data Corroborates Government Statement
Blockchain analytics from Arkham confirm the DOJ's position, with no significant reduction in U.S. government-held Bitcoin. As of January, the government holds over 328,000 BTC, valued at more than $31 billion, with no signs of outflows from the Samourai case.
Historical Context and Policy Shift
Past practices saw the U.S. government auctioning seized Bitcoin, leading to assumptions of similar actions for new forfeitures. However, Executive Order 14233 marks a policy shift, retaining certain Bitcoin as strategic assets. The DOJ's statement ends speculation about the Samourai-related Bitcoin entering the market.
Conclusion
- DOJ Confirmation: The DOJ confirms Samourai Wallet-related Bitcoin remains unsold, adhering to federal policy.
- Changing Expectations: The case highlights evolving U.S. government strategies for managing seized digital assets.