Canadian tycoon Frank Giustra revealed that confiscation is a shameful way to acquire Bitcoin (BTC). Furthermore, it's an easy endeavor for a government. According to Frank, Bitcoin is easier to confiscate than gold. Therefore, it's easy for those who confiscate it to get free Bitcoin. "Bitcoin is much easier to confiscate than gold. Just look at the government's much-vaunted Bitcoin reserves, which consist entirely of confiscated BTC.
Purchases are easier to track, and when they're desperate, they take the quick way out," he tweeted. Furthermore, he believes that the Greenland incident has driven many investors to gold. Therefore, he feels Bitcoin cannot be compared to gold. For example, the US: 70% of its holdings came from seizures in the Silk Road, Bitfinex Hack, and James Zhong cases. China holds the second largest holdings, obtained from confiscated goods in the PlusToken Ponzi Scheme in 2020. Beijing confiscated 194,000 Bitcoins and a number of Ethereum (ETH). Most recently, the UK seized 61,000 BTC from a woman involved in a money laundering case involving a fraudulent investment scam.
