Bitcoin Transfers Made by the US Have Been Approved: What Happens Now?

  • The transaction carried out today shows that a total of 3918 Bitcoins (BTC) associated with the Silk Road operation and determined to belong to the American government were moved.
  • With the news, the price of Bitcoin dropped by approximately 1% to $30,461 but quickly recovered and is currently trading at $30,770.
  • Previously, the US government seized 50,000 Bitcoins associated with the Silk Road market in November and sold 9,861 Bitcoins for $216 million in March.

The claim that the Bitcoins seized by the US government from Silk Road were moved is confirmed by the transaction record.

US is Moving its Bitcoins

On-chain data shows that a total of 3918 Bitcoins (BTC) associated with the Silk Road operation and determined to belong to the American government were moved in the transaction carried out today. The current value of these Bitcoins is slightly over $285 million.

The first news about the transfer process came about 2 hours ago, but it needed to be verified because similar news had come twice before and turned out to be false.

With the news, the price of Bitcoin dropped by approximately 1% to $30,461 but quickly recovered and is currently trading at $30,770. It is still uncertain whether the US has sold these Bitcoins, but the US had already announced that it would sell these Bitcoins.

The confirmation of this transaction was made with the TX record:

usa-bitcoin-transfer

According to the information in the transfer, it shows that the government-controlled wallets sent a total of 9,318 Bitcoins. The same wallet had made a transfer of over $1 billion worth of Bitcoins in March, causing a decline in the value of all major cryptocurrencies.

Previously, the US government seized 50,000 Bitcoins associated with the Silk Road market in November and sold 9,861 Bitcoins for $216 million in March.

BREAKING NEWS

Yihan Hua’s Trend Research Withdraws 17,450 ETH ($75.7M) From Aave and Deposits It All Into Binance

COINOTAG reported on October 2 that on-chain monitoring service...

NYDFS Custody Guidance: New Rules to Protect Bitcoin Ownership in Bankruptcy

The New York State Department of Financial Services (NYDFS)...

Ethereum Liquidation Warning: Above $4,400 Could Spark $1.08B Short Squeeze; Below $4,200 Risks $1.47B Long Liquidations on Major CEXs

Ethereum faces defined liquidation thresholds per Coinglass data cited...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img