A prominent on-chain analyst predicts that the U.S. government may ultimately return up to $100 million worth of seized BTC to its original owners. This follows a recent statement by former President Trump at a Bitcoin conference in Nashville, where he indicated that his administration would retain all Bitcoin held by the U.S. government.
According to renowned cryptocurrency analyst Willy Wu, Trump’s commitment is unlikely to materialize. 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.
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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 reclaim these assets. He also noted that such actions may be approached cautiously, reflecting the company’s tendency to stay out of the spotlight.
