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63 sats \ 2 replies \ @Satosora 20 Jul \ parent \ on: If The US Wanted To Build A Bitcoin Reserve, How Would It? bitcoin
I dont want to sound like an ahole, but I am not sure on this. I think the department that seizes it gets a percentage of it put into their budget?
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33 sats \ 1 reply \ @grayruby 20 Jul
I wasn’t trying to be a smart ass with my question. Sorry if it came off that way. I am from Canada I don’t know how any of it functionally works. I assumed auction proceeds would just go directly to the treasury which would effectively be the same as sending the bitcoin to the treasury but I have no idea. You could be right. They may legally need to auction it and the dept keeps the proceeds as part of their financing:
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63 sats \ 0 replies \ @Satosora 20 Jul
Yeah, I am not 100% sure. I know they sold a bunch of the silk road bitcoins. They went to a Tim Draper.
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