The US government recently transferred $1.92 billion worth of Bitcoin to new wallets, with $963 million going to Coinbase. These funds originated from the Silk Road seizure and can be legally sold. There are worries within the community that President Biden may be looking to sell off the US Bitcoin supply before Trump's inauguration, potentially hindering his plans to establish a Bitcoin Reserve. Despite concerns, the crypto community remains optimistic about Bitcoin's future, with institutional investors continuing to show interest in the cryptocurrency. While there are speculations about Biden's intentions, it is believed that Trump will still be able to create a Reserve with the remaining Bitcoin in federal custody. The market has shown resilience in the face of potential sell-offs, with Bitcoin's value recovering after initial declines. Overall, the situation remains uncertain, but the long-term outlook for Bitcoin appears positive. Read more AI-generated news on: https://app.chaingpt.org/news

#BTC