March 29, 2024

U.S. County Government Receives Nearly 250% of Bitcoin Sales Profit

The Monmouth Prosecutor's Office in New Jersey turned cryptocurrency confiscated in 2018 into state revenue.

In Monmouth County, American State of New Jerseylocal authorities sold $ 198,000 worth of bitcoin, receiving 247% of the profits, according to NBC. The district prosecutor's office turned these funds into state revenue. The cryptocurrency was seized in 2018 during an investigation into drug trafficking. Law enforcement officers have classified cryptocurrency as income from illegal activities. At that time, the value of the confiscated assets was $ 57 thousand.

Also, the authorities of Monmouth seized the 2017 cryptocurrencyyear. Then the cost of confiscated bitcoins in the case of robbery of financial institutions was estimated at more than $ 200 thousand. Now, according to NBC, the price of confiscated digital is $ 1.25 million.

In the summer of 2017, the price of bitcoin was around $ 3By December of the same year, the cost of the first cryptocurrency had grown to $ 20 thousand.After that, the quotes of the digital coin began to decline and by December 2018 again reached $ 3.4 thousand.In three years, the price of bitcoin increased by 1488%, at 19:05 Moscow time On April 28, the coin is trading at $ 54.3 thousand.

</p></p>