Federal officials are making moves to move their Bitcoin Stock up again
Data from the blockchain shows that, on Tuesday morning a wallet marked as belonging to United States Department of Justice began moving some of its funds. A crypto exchange Coinbase is believed to have received $2 billion in BTC at an address.
Pseudonymous blockchain analyst ZachXBT You can also read about the importance of this in our article Twitter/X confirmed that funds had been transferred to a Coinbase account. A test transaction worth 0.001 BTC was made (about $69), and then approximately 2,000 BTC were sent ($131.27million).
Arkham Intelligence’s platform, which tracks data on blockchain, is labeled with a U.S. Government address. The platform of Arkham Intelligence, which tracks blockchain data, has a U.S. government-labeled address. Shown Below The funds have been moved to Coinbase Prime. As of this date, the majority of $2 billion worth of Bitcoin is still “unspent”. Transaction data, however.
Federal agents hold Bitcoins that have been confiscated from criminals, and they sometimes transfer them around. They sometimes intend to sell the Bitcoin.
The government announced its January 2019 budget in January Announced plans to Sell 2,933 BTCThe cryptocurrency was worth about $133.5m at the time it went public. However, the company said that non-defendants would have 60 days to submit a claim to the interest. The expected sale may have influenced Tuesday’s movement.
Back in November 2021, authorities seized Hacker James Zhong admitted to having stolen digital assets worth $3.36 billion from Silk Road, an illegal marketplace where people used crypto for drugs and illicit items.
Update: 1999 BTC (139M USD) sent to Coinbase Prime address
Hash txn
b614dd2e0fa06d776ee4d45973fab5ceb6e2dfebfb84e5f7bd45ef0975455240
— ZachXBT (@zachxbt) April 2, 2024
When large sums of money are moved, Bitcoiners will keep a close eye on the big BTC holders. Bitcoin’s price has fallen because of previous movements, or even those that observers suspect.
Editor by Andrew Hayward
Note from the Editor: After publication, this story has been updated with new details.