On Monday, the United States government moved $2 billion worth of seized Bitcoin, significantly impacting the market, just two days after presidential candidate Donald Trump pledged to start amassing bitcoin (BTC).
The transaction involved a wallet labeled “U.S. Government: Silk Road DOJ,” which was known for holding Bitcoin seized from the Silk Road operation.
The wallet containing 29,800 BTC was moved to an address with no prior transaction history. This address acted as an intermediary. This address then forwarded 19,800 BTC to another address, while 10,000 BTC, valued at around $670 million, was sent to a third address.
After the transfer, Bitcoin continued to fall, breaking below $67,000 after reaching a session high of $70,000 earlier today. Bitcoin was trading at around $67,400 at the time of publication, a 1.12% decrease from the previous day.
According to Arkham’s statistics, the U.S. government had $12 billion worth of seized bitcoin before the transfer.
Also Read: U.S. Govt Transfers $4M in Seized Bitcoin to Unidentified Wallet
