A well-known on-chain analyst predicts that the U.S. government may ultimately return up to $100 million in confiscated BTC to its original owners. This follows a recent statement made by former President Trump at a Bitcoin conference held in Nashville, where he asserted that his administration would retain all Bitcoin held by the U.S. government. According to prominent cryptocurrency analyst Willy Wu, Trump’s promise is unlikely to be realized. He pointed out that a significant portion of the approximately 96,000 BTC held by the U.S. government is related to the 2016 Bitfinex hack incident.
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The collapse of the cryptocurrency market has resulted in millions of dollars in losses for traders. Given that the U.S. Department of Justice has recovered the stolen Bitcoin, he anticipates that these funds will be returned to the company following legal proceedings. Wu suggested that Bitfinex and its affiliate Tether could take legal action to recover these assets. He also noted that such actions might be undertaken cautiously, reflecting the company’s tendency to stay out of the spotlight.
