{"id":164049,"date":"2024-04-03T13:13:53","date_gmt":"2024-04-03T13:13:53","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=164049"},"modified":"2024-04-03T13:13:57","modified_gmt":"2024-04-03T13:13:57","slug":"u-s-government-moves-massive-2b-bitcoin","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/u-s-government-moves-massive-2b-bitcoin\/","title":{"rendered":"U.S. Government Moves Massive $2B Bitcoin Stash to Coinbase: What&#8217;s Going On?"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">A wallet linked to the US government transferred 30,175 bitcoins, valued at approximately $2 billion, to a wallet associated with the exchange platform Coinbase.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This transfer represents a significant movement of btc seized by the government, with the last sale confirmed in March 2023.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The transferred bitcoins are related to the seizure of around 50,000 btc linked to the illegal Silk Road marketplace.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">United States government<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> has made a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">significant transfer <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">of bitcoin,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> according to <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/tx\/9c3af4b48e66565f1da1da8278036fa1dbb09f2beaaca99c3504475390ba4590\" target=\"_blank\" rel=\"noopener\">recent blockchain data.<\/a><\/span><\/span><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">A <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">wallet identified as belonging to the US government<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> has moved <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">30,175 bitcoins<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to a wallet <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">supposedly associated<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> with the cryptocurrency exchange <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Coinbase<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This transaction, made late Tuesday morning, is worth approximately <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$2 billion at current prices, which are around $65,000 per token<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This bitcoin movement is notable given that the last confirmed sale of <\/span><strong><span style=\"vertical-align: inherit\">government-seized <\/span><\/strong><\/span><strong><a href=\"https:\/\/crypto-economy.com\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">BTC<\/span><\/span><\/a><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> occurred in March 2023.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">On that occasion, approximately 9,861 btc were sold <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">for $216 million<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">These bitcoins were part of the approximately <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">50,000 tokens seized by the government in late 2022 in connection with the Silk Road website<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-81560\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/04\/btcc.jpg\" alt=\"US Government Moves Huge $2 Billion Bitcoin Stockpile to Coinbase: What's Happening?\" width=\"825\" height=\"300\" \/><\/p>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The receiving Bitcoin wallet has not been identified yet<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Arkham intelligence<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> has <\/span><span style=\"vertical-align: inherit\">tagged it as <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">belonging to the cryptocurrency exchange platform <\/span><\/span><a href=\"https:\/\/crypto-economy.com\/coinbase-review\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Coinbase.<\/span><\/span><\/a> <\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Following the disclosure of this news, an immediate reaction was observed <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">in the price of btc.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Initially, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">the cryptocurrency saw a slight decline,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> dipping below the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$65,000<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> mark before reaching a low of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$64,800<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">However, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">this decline was followed by a rapid recovery,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> with the price of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">bitcoin<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> rising again and settling at <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$65,200<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">However, the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">btc<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> market is known for its volatility, and <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">this price fluctuation could be interpreted as an initial reaction<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to the news of the massive transfer of funds by the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">US government.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The subsequent stabilization of the price, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">with an increase of 1.05% and a current value of <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$65,940<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, suggests a possible calm in the market and a recovery of investor confidence.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This movement of bitcoins by the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">US government suggests possible strategic decisions<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> regarding the management of seized digital assets.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Furthermore, it highlights the continued involvement of authorities in the cryptocurrency market, especially <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">in relation to cases of financial crimes such as the Silk Road.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The cryptocurrency community <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">will be keeping an eye on any further developments in this case<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> as it could have significant implications for the broader market.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR A wallet linked to the US government transferred 30,175 bitcoins, valued at approximately $2 billion, to a wallet associated with the exchange platform Coinbase. This transfer represents a significant movement of btc seized by the government, with the last sale confirmed in March 2023. The transferred bitcoins are related to the seizure of around &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"U.S. Government Moves Massive $2B Bitcoin Stash to Coinbase: What&#8217;s Going On?\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/u-s-government-moves-massive-2b-bitcoin\/#more-164049\" aria-label=\"More on U.S. Government Moves Massive $2B Bitcoin Stash to Coinbase: What&#8217;s Going On?\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":164058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74],"tags":[4602,4620,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/164049"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=164049"}],"version-history":[{"count":3,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/164049\/revisions"}],"predecessor-version":[{"id":164059,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/164049\/revisions\/164059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/164058"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=164049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=164049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=164049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}