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Home Cryptocurrency news Bitcoin

Australian Law Enforcement Nets 20x Gains From Seized Bitcoin

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin, Cryptocurrency news
Reading Time: 3min read
bitcoin australia seized
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Bitcoin is a wildly volatile asset, known for its massive price swings and for being the best performing asset of all-time. It’s made many early investors millionaires as a result.

It’s even helped law enforcement gain over 2000% returns on a large sum of BTC that was seized as part of a sting on an Australian arms dealer, according to a new report.

Law Enforcement Down Under Experience Huge Upside On Seized Bitcoin

Back in 2016, Australian authorities arrested a suspect in a sting involving an arms dealer. The weapons were bought and paid for using Bitcoin, resulting in the Bitcoin used in the transactions being seized as evidence.

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Related Reading | Visualized: Bitcoin ROI Crushes Stock Market Returns 

At the time, long before the crypto hype bubble and the Bitcoin bull run heard round the world, the crypto asset was worth under $1,000. After years of a drawn-out ligation process, the suspect finally agreed to forfeit over any BTC involved to the Brisbane Criminal Assets Confiscation Taskforce.

When Australian authorities finally gained control over the seized BTC, it was November 2018, and Bitcoin’s price had grown significantly over the course of two years – reaching a peak of $20,000.

When law enforcement first began the litigation process, the seized crypto assets in total were worth roughly $5,000, but by the time they had received the cryptocurrency, the grand total value of all seized Bitcoin had ballooned to $105,000, resulting in a 2,000% gain for law enforcement.

This Is Why You HODL

The term HODL – often said to be an acronym for “hold on for deal life” – was coined as a way to remind crypto investors that when times get rough, and prices start falling, simply continuing to hold onto Bitcoin will typically result in a significant payoff.

The earliest investors in Bitcoin who held onto the young, untested technology (at the time) experienced gains that are unheard of in financial markets. Bitcoin as an asset at first was virtually worthless, and today it is traded $7,500 per BTC.

The above story highlights why simply holding Bitcoin in the long-term almost always results in significant gains. In just two years time, $5,000 worth of the cryptocurrency went on to do an over 20x return, and increased over $100,000 in value. Had law enforcement received the Bitcoin near the top of the crypto bubble, the same amount of BTC could have been worth close to a half a million dollars.

Even investors who bought the bear market bottom and sold the recent local top around $14,000, would have netted a 350% return on investment.

Related Reading | Tech Stocks, Gold, Oil, and S&P 500: Bitcoin ROI Beats Them All 

These examples show that its never a bad time to buy Bitcoin, and even if the price of the asset collapses shortly after a buy order is made, it has in the past always rebounded, and brought investors such substantial gains, no other asset has ever outperformed Bitcoin.

Tags: australiabitcoincryptohodlLaw enforcement
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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