U.S. Government Holds Significant SHIB Reserves
The U.S. government currently holds a substantial amount of Shiba Inu (SHIB), a cryptocurrency that has continued to gain widespread popularity among both individual and institutional investors.
U.S. Government’s SHIB Holdings
In addition to individual and institutional investors, the U.S. government has accumulated a significant quantity of SHIB in its blockchain wallet. According to Arkham Intelligence, the government’s holdings amount to 54.89 billion SHIB tokens. Notably, the government’s blockchain wallet contains over 100 digital assets valued at $12.43 billion at the time of this report, with Shiba Inu accounting for billions in holdings alone.
With SHIB trading at $0.00001329 per unit, the U.S. government’s 54.89 billion SHIB is valued at approximately $729,581. This makes Shiba Inu the 19th largest digital asset by dollar value in the government’s portfolio.
Potential Impact of Future Sales
Bitcoin is the most valuable asset in the government’s portfolio, currently worth $12.04 billion. While the current value of Shiba Inu may seem modest compared to Bitcoin, some enthusiasts speculate that the U.S. government might be waiting for a potential price increase before selling its SHIB holdings.
Given its holdings of over 54 billion SHIB tokens, the U.S. government is considered a “whale,” whose actions could significantly influence Shiba Inu’s price movements. If the government decides to sell its SHIB holdings, it could have a bearish impact on the asset’s value.
As of now, the U.S. government has not announced any plans to sell its SHIB holdings. However, a similar scenario occurred recently when the German government initiated a massive sell-off of over $2 billion worth of Bitcoin, leading to a significant price crash, with Bitcoin plummeting to $57,000.
At the time of this report, Shiba Inu is trading at $0.00001329 per token, down 1.54% in the last 24 hours, and has seen a 5.58% decline in weekly charts.choices.
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