Economist Peter Schiff Speculates Biden Administration Will Sell Every Satoshi Before Trump Takes Office

Speculation that the Biden administration will sell all its bitcoin holdings has intensified after former President Donald Trump promised

The Biden administration is reportedly planning to sell all of its seized bitcoin (BTC) holdings, following former President Donald Trump’s pledge at the Bitcoin Conference in Nashville, Tennessee, on Saturday to ensure the government keeps all of its confiscated bitcoin if re-elected.

According to economist and gold advocate Peter Schiff, the administration will likely sell every satoshi before Trump takes office again. “If Trump really intended to use seized bitcoin to start a U.S. ‘strategic’ reserve, he’d have kept his intention a secret until he was actually in office,” Schiff stated on social media platform X. “Now that the Biden administration is wise to his plan, they’ll make sure to sell every satoshi before Trump takes office.”

On Monday, the U.S. Department of Justice (DOJ) transferred 29,799.99 BTC to an unknown Pay-to-Witness-Public-Key-Hash (P2WPKH) wallet. However, the U.S. government wallet still holds 183,439 BTC, valued at over $12 billion, as per Arkham Intelligence data.

After this $2 billion transfer, Arkham Intelligence noted that the funds were split into two Bech32 bitcoin addresses: one with 10,000 BTC and the other with 19,799.99 BTC. The firm speculated that the 10,000 BTC might have been sent to an institutional custody service.

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