The FBI has a stash of 174,000 bitcoins it’s seized from perpetrators of nefarious activities, worth about $130.3 million at current exchange rates, Pando Daily reports. Since that represents something on the order of 1.5 percent of all Bitcoin in existence, the FBI could send the value of the digital currency plummeting if it sells its hoard all at once.
Unlike other big stashes — the currency’s anonymous founder is believed to hold as many as 1 million bitcoin — “the location of the FBI accounts is widely known and the fact that its plans (to liquidate its position) are known may mitigate some of the potential negative effects,” Pando Daily’s Michael Carney reports. Source: pando.com.
