US Hoards Cryptocurrency: Government Assets Include Billions in Shiba Inu

The US government owns billions of Shiba Inu, which could have a significant impact on the cryptocurrency market. Selling these assets could cause volatility and change in the price of the token.

Governments around the world are actively accumulating cryptocurrencies, and among their holdings is expectedly Bitcoin (BTC), the world's largest cryptocurrency. However, what may come as a surprise to many is the fact that the US government owns meme coins. According to recent data, the US government owns billions of Shiba Inu tokens.

According to Arkham Intelligence, the US government owns 54,897,000,000 Shiba Inu tokens. At the time of writing, the value of these 54.89 billion SHIB is estimated at $758,013 at the current price per token.

Having the meme coin in government assets is great news for the Shiba Inu network, but the situation could change dramatically if the government decides to sell its assets.

The Shiba Inu network faces high volatility. Over the past week, the token has lost more than 4% in value, and over the past 24 hours, SHIB has lost another 1.20%. Despite this, with a market cap of $7,759,311,329, Shiba Inu remains one of the major players in the cryptocurrency market.

Besides Shiba Inu, The US government's cryptocurrency portfolio, valued at $12.43 billion, contains more than 100 different digital assets. Among them, Ethereum (ETH), Binance Coin (BNB), Tron (TRX) and others also stand out.

While the German government is actively selling its crypto assets, causing concern in the market, the US government has not yet announced plans to sell tokens.

Author's opinion. I would like to draw your attention to the fact that tax regulation as such has not yet been created. It is only just coming. But the countries' portfolios are already full of crypto, and it did not appear there yesterday. Don't you find this surprising?

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