Silk Road Bitcoin Are ‘Almost Certainly’ Sold By US Gov, Claims Lawyer
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Another transfer by the US government of originally seized Bitcoin from the notorious Silk Road has sparked widespread speculation on Wednesday, August 14. Blockchain analytics firm Arkham reported yesterday that 10,000 Silk Road BTC, valued at approximately $593.5 million, were transferred to Coinbase Prime, a platform used primarily for institutional investors.

According to Arkham’s post on X: 10,000 Silk Road BTC ($593.5M) moved to Coinbase Prime. Wallet bc1ql received 10K BTC from a known US Government wallet 2 weeks ago. This BTC has just been sent on to 33J, a Coinbase Prime deposit wallet.”

Is The US Gov Selling Bitcoin?

This transaction comes on the heels of a June announcement from the US Marshals Service (USMS), part of the Department of Justice, detailing a new partnership with Coinbase Prime to provide custody and advanced trading services for the agency’s “Class 1” (large cap) digital assets. The community is torn over whether these moves signify the selling of the Bitcoin or merely a transfer for custody purposes. Thus, many speculated that the US gov is not selling.

However, Scott Johnsson, a finance lawyer and general partner at Van Buren Capital, expressed a distinct view today, arguing that the transaction signals a definitive sale of the seized assets by the US government.

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