Bitcoin Falls Below $67,000 as US Government Transfers $2 Billion in 'Silk Road' Tokens
The government owns approximately $12 billion in confiscated bitcoins, according to Arkham Intelligence.
The U.S. government moved $2 billion in confiscated bitcoins (BTC) on Monday, plunging already declining prices and raising fears among investors of selling the assets just two days after presidential candidate Donald Trump's pledge to start accumulating BTC.
Arkham Intelligence blockchain data shows that a wallet labeled “US Government: Silk Road DOJ” transferred 29,800 BTC related to the Silk Road website to an unlabeled address with no prior transaction history . The address then forwarded 19,800 BTC and 10,000 BTC to two different addresses.
Arkham analysts suspected that the transfer of 10,000 BTC worth $670 million was a deposit in an institutional escrow or service.
