- Arkham, a crypto analysis firm, has identified a new Bitcoin wallet within the US Government, containing approximately 3.94 thousand Bitcoin valued at around $251 million.
- The movements and trades of Bitcoin by large corporate entities, especially those like the US Government that significantly influence the price, are keenly observed by investors.
- Previously, Arkham had identified the Bitcoin wallets of Elon Musk’s companies, Tesla and SpaceX.
Arkham, a crypto analysis firm, uncovers a new Bitcoin wallet within the US Government, holding a significant amount of Bitcoin. This discovery sheds light on the government’s involvement in the crypto market.
Arkham Discovers US Government’s New Bitcoin Wallet
Arkham, the crypto analysis company known for previously identifying the Bitcoin wallets of Elon Musk’s companies, Tesla and SpaceX, has now identified a new Bitcoin wallet within the US Government. This wallet reportedly contains approximately 3.94 thousand Bitcoin, valued at around $251 million. This discovery highlights the US Government’s substantial involvement in the crypto market, which is often a subject of interest for investors.
Details of the Discovery
According to Arkham, the address of the wallet containing the Bitcoins was determined during a court hearing in January this year. The Bitcoins were seized from drug dealer Banmeet Singh. As per Arkham’s data, the US Government currently holds 216.811 thousand BTC, including the Bitcoins in the newly identified wallet, valued at approximately $13.83 billion.
Implications for the Crypto Market
The discovery of this substantial Bitcoin wallet within the US Government could have significant implications for the crypto market. The movements and trades of Bitcoin by large corporate entities, especially those like the US Government that significantly influence the price, are keenly observed by investors. This discovery could potentially influence investor sentiment and market trends.
Conclusion
This discovery by Arkham underscores the significant involvement of the US Government in the crypto market. With a substantial amount of Bitcoin in its possession, the government’s actions could significantly influence the market. Investors and market watchers will likely keep a close eye on any developments related to this wallet.
