A wallet belonging to the US Department of Justice and holding over $2 billion worth of Bitcoin has just transferred $140 million worth of BTC after an initial test transaction. Could the US government be on the verge of a massive Bitcoin sale
The U.S. is about to transfer $2 billion worth of Bitcoin?
Without warning, a US government-owned wallet holding over $2 billion in Bitcoin has transferred $139 million to Coinbase after making an initial test transaction of around $70.
Update: 1999 BTC ($139M) transferred to the same Coinbase Prime deposit address
txn hash
b614dd2e0fa06d776ee4d45973fab5ceb6e2dfebfb84e5f7bd45ef0975455240– ZachXBT (@zachxbt) April 2, 2024
According to data from Arkham Intelligence, the US government holds over $14.3 billion in cryptocurrencies, almost all of it in the form of BTC.
In this case, the Bitcoins in the wallet in question are those seized in the Silk Road case, the former darknet black market that accepted Bitcoin payments. The wallet is labeled as belonging to the U.S. Department of Justice
Screenshot of the $140 million transferred by the US Department of Justice
For the moment, it’s too early to say what the US government intends to do with the transferred Bitcoins. In any case, we’ll have to keep a close eye on these movements of funds, particularly in the event of sales.
The Bitcoin price is down by just over 4% over the last 24 hours, with one BTC currently trading at around $65,300.
