📢 Attention crypto-enthusiasts! The US government has transferred 3,940 Bitcoin to a Coinbase Prime wallet, according to data from Arkham Intelligence. These BTC were confiscated from Banmeet Singh, a convicted drug trafficker.

Despite fears of a possible market effect from the sale of these Bitcoin, cautious optimism remains. Let us remember that the US government owns large amounts of Bitcoin acquired through seizures, being the largest state holder of the cryptocurrency.

Furthermore, the selling pressure from the Mt. Gox case has raised fears of a drop in the price of Bitcoin. However, exchange balances are at 6-year lows, acting as a price-stabilizing counterweight.

Do you think these government sales will affect the price of Bitcoin? Share your opinion in the comments! 💬