US Government Moves $2 Billion in Silk Road Bitcoin Amid Trump's Strategic Stockpile Proposal

Jul 29, 2024, 05:33 PM

The US government has transferred approximately $2 billion worth of Bitcoin, linked to the Silk Road case, to new addresses. This move comes just two days after former President Donald Trump announced his intention to create a strategic national Bitcoin stockpile and retain all government-held Bitcoin if re-elected. Reports indicate that the $2 billion in Bitcoin was split into two addresses, with 10,000 BTC likely going to a custody service, as Arkham reports. The transfer has sparked speculation about the government's intentions, especially in light of recent political promises related to Bitcoin, including those made at the Bitcoin Conference. President Joe Biden has addressed the move, which has led to discussions about a potential internal government struggle over the control of the Bitcoin assets, including the 200,000 Bitcoin held by the Department of Justice.