The U.S. government transferred nearly 4,000 Bitcoin to Coinbase on June 26, 2024 ¹ ² ³:
- The Bitcoin was seized from Banmeet Singh, a convicted drug trafficker, earlier in 2024.
- The U.S. government is the largest state holder of Bitcoin, with about 214,000 coins worth $13 billion.
- The transaction has sparked fears of a sell-off and its potential impact on the Bitcoin market.
- This move follows reports that the German government was also selling its Bitcoin holdings.#CryptoPCEWatch