U.S. Government Initiates Sale of Silk Road-Linked
Bitcoin
Government Transfers Bitcoin to Coinbase
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In a notable development, the U.S. government has reportedly initiated the process to sell an additional tranche of Bitcoin (BTC), this time involving approximately 2000 BTC, which has been transferred from government holdings to Coinbase, a leading cryptocurrency exchange. This move is part of the ongoing disposal of the government's substantial Bitcoin assets, which are linked to the infamous Silk Road.
Observations by Blockchain Analysts
Blockchain analysts, including the prominent on-chain sleuth ZachXBT, observed and reported on Tuesday that a small transaction of government-controlled Bitcoin, associated with the Silk Road case, was made to Coinbase. This platform has been previously utilized by the government for similar sales of its Bitcoin assets. Following this initial transaction, a larger transfer was made, with 1999 BTC, valued at approximately $139 million at the time, being sent to Coinbase Prime, a service tailored for institutional clients.
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Current Holdings and Historical Context
