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A wallet labeled as belonging to the U.S.government transferred $2 billion worth of bitcoin to an unidentified wallet on Monday, according to Arkham Intelligence data. The nearly 28,000 BTC, valued at over $2 billion, is linked to funds confiscated from the now-defunct Silk Road. Last year, a U.S. appeals court finalized the forfeiture of 69,370 bitcoins tied to Silk Road. The DOJ seized the bitcoin in 2020, initially valued at over $1 billion. The U.S.government's crypto portfolio still holds over $12 billion in bitcoin,
We believe Bitcoin ($BTC ) will reach $80,000 in August. Several factors contribute to this optimistic outlook: increased institutional adoption, Bitcoin's fixed supply and halving effects, clearer regulations, and macroeconomic instability driving interest in decentralized assets.
As Bitcoin's price rises, we expect a positive ripple effect on altcoins like GALA and DOGE. GALA, linked to the growing blockchain gaming and NFT sectors, stands to gain as investors diversify their portfolios. DOGE, with its strong community and media attention, could see a significant price boost due to increased market confidence.
While the potential for gains is high, investors should proceed with caution and conduct thorough research. Stay tuned for more insights as we monitor market developments.
The US government, a major bitcoin holder, intends to sell 41,490 BTC in 2023, as revealed in a court document related to James Zhong's sentencing. In November 2022, the government seized a record-breaking 50,000 BTC from Zhong, who admitted to wire fraud in September 2012 after unlawfully obtaining over 50,000 bitcoin from the Silk Road dark web marketplace
Blockchain technology is, at the end of the day, just a tool – no more, no less. The blockchain is something that we use for data storage and distribution and, as a result, it can be utilised in a variety of ways.
The problem is that the blockchain can seem like a rather arcane place, with a whole load of rules, regulations and jargon that might, at first glance, appear offputting – though if you think about it, pretty much anything can fall into that category.