21Shares: American authorities own a very large amount of bitcoins

According to CoinShares, the weekly inflow of funds into cryptocurrency projects reached $160 million, which is the largest figure since July last year. The company’s analysts noted that “although the influx of funds came relatively late compared to the broader cryptocurrency market,” investors’ concerns are more related to the instability of the traditional financial market.

The most significant investments were made by residents of the USA ($69 million), Germany ($58 million) and Canada ($26 million). Bitcoin-related products are still considered the most popular.

The influx into the BTC industry amounted to $128 million due to the fact that customers for the first time considered it as a “safe haven”. At the same time, not all investors share this point of view, since the inflow into BTC shorting products reached $31 million.

But on the Ethereum market, an outflow of $5.2 million was recorded. This is happening for the third week in a row. CoinShares analysts believe that this trend may be related to the concerns of the crypto market players about the upcoming Ethereum Shanghai update, which is scheduled for April 12.

Investors also took notice of Solana, Polygon, and Ripple, which raised $4.8 million, $1.9 million, and $1.2 million, respectively.

And experts from 21Shares said that the US authorities own a fairly large amount of bitcoins. It is 205,515 BTC, which is approximately equal to $5.66 billion.

Analysts noted that such a significant amount was at the disposal of the presidential office and federal structures after several well-known cases of cryptocurrency confiscation.

We are talking about the seizure of 69,369 BTC in the Silk Road case in 2020, the confiscation of 94,643 BTC from Ilya Lichtenstein and his wife Heather Morgan, who are suspected of hacking Bitfinex, and 51,326 BTC from James Zhong. As of March 25 this year, the US authorities hold approximately 1.06% of the circulating supply of bitcoin.

Interestingly, 21Shares believes that US officials may have significantly more BTC, since the valuation of 205,515 coins is the “lower limit” based on open information