US Government Moves $1.92B in Bitcoin, Including Silk Road Funds; Sends 10K BTC to Coinbase

Dec 2, 2024, 05:02 PM

The US government has transferred nearly 20,000 Bitcoins, valued at approximately $1.92 billion, to new addresses, including moving 10,000 Bitcoins (worth about $963 million) to Coinbase Prime. The funds include Bitcoin seized from the Silk Road darknet marketplace. This transfer represents nearly 10% of the US government's holdings, which currently stand at around 188,309 Bitcoins, valued at over $18 billion. The large movements have raised questions about whether the government is preparing to sell a portion of its Bitcoin holdings, potentially impacting the market.