That's an interesting angle in the "is Bitcoin really a currency or is it just property?" argument. What would happen if the US government seized a billion dollars worth of foreign cash?

Would that get auctioned off too? Seems like a weird auction, selling money.

It's a security.

Securities are traded like currency because the security represents a proof of ownership.

Why go through the trouble? Count it as "revenue" and destroy it.

If the govt wants 1B in cash there are easier ways to get it.