According to a tweet from on-chain data company Arkham, the U.S. government transferred Bitcoin worth $1.92 billion to a new address, of which 10,000 Bitcoins (valued at approximately $963 million) have been transferred to the Coinbase exchange. The U.S. government currently still holds 188,309 Bitcoins, worth about $18 billion.
Is the U.S. government ready to sell Bitcoin again?
Is the U.S. government ready to sell Bitcoin again? At the end of last year, the U.S. officially confiscated 69,370 Bitcoins and other cryptocurrencies related to Silk Road and transferred them out at the end of July, when 10,000 Bitcoins were transferred to Coinbase and sold in mid-August.
The U.S. Marshals Service, responsible for asset forfeiture, announced in July that it had chosen Coinbase Prime to provide custody and 'premium trading services' for large digital assets.
(Coinbase favored by the U.S. Marshals Service, cooperating to provide cryptocurrency asset custody services)
Every time there are rumors of the U.S. government selling coins, it always causes market panic. Will the transfer of 10,000 Bitcoins to Coinbase this time affect the market?
Bitcoin continues to hover at high levels
After Bitcoin set a historical high of $99,588 on 11/22, it has repeatedly challenged the $100,000 mark without success and has recently continued to hover above $90,000.
MicroStrategy, which claims to be a Bitcoin development company, announced yesterday that it would spend another $1.5 billion to buy 15,400 BTC. As of December 2, 2024, MicroStrategy will own 402,100 Bitcoins, far exceeding the U.S. government's 188,309.
With Trump about to take office, the expected relaxed regulatory environment has greatly increased institutional interest in Bitcoin. Will Bitcoin continue to lead everyone to new highs in this bull market?
(Bitcoin spot ETF holdings surpass Satoshi Nakamoto! Supply and demand imbalance will lead to an increase in BTC prices)
This article asks if the U.S. government is going to sell Bitcoin again? BTC 96K, when will it break new highs? First appeared in Chain News ABMedia.
