US Government Transfers 30,175 Bitcoin to Coinbase

Late Tuesday morning, a wallet labeled as belonging to the US government transferred 30,175 bitcoins to a Coinbase wallet, Coindesk reported.

At the current Bitcoin (BTC) price level of around $65,000, this roughly equates to a token value of approximately $2 billion.

The last confirmed sale by the US government occurred in March 2023, when the government sold 9,861 Bitcoin for US$216 million, which was added to the approximately 50,000 Bitcoin seized later in 2022 associated with the Silk Road website currency.

This morning a Bitcoin transfer was made to an unverified wallet, but Arkham Intelligence flagged the wallet as belonging to crypto exchange Coinbase.