Recently, around 10,000 Bitcoins were moved from digital wallets associated with the now-defunct darknet marketplace, Silk Road, by the U.S. government. This transaction, along with others in the past week, has had a detrimental impact on the current sentiment towards Bitcoin as an investment asset.
Unending US Government Bitcoin Transfers
The United States possesses one of the biggest Bitcoin reserves in the country. A significant portion of this BTC was confiscated from illegal dark web marketplaces during a law enforcement operation. For reasons yet unknown, the people managing this fund have been transferring various portions of the coins for several months now.
In July, following a string of sell-offs, the direction of Bitcoin holdings in the fund mirrored Germany’s, as they liquidated their 50,000 Bitcoins.
According to the data presented by HODL15Capital on X, the U.S. government distributed a total of 10,000 Bitcoins in two separate transactions. The initial, smaller transfer amounted to 0.00000546 BTC, while the second and larger transaction included 9,999.9999 BTC, which was sent to the Bitcoin address “33JEE…4jnoE” with a remaining balance of approximately 0.0001 BTC.
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2024-08-14 19:35