2 years ago
According to on-chain data, the US instrumentality enforcement bureau moved 49,000 Bitcoin (BTC) — implicit $1 cardinal — during the aboriginal hours of March 8.
On-chain information supplier Glassnode reported that the US bureau was moving astir 40,000 BTC, adding that the transactions look to beryllium interior transfers. However, it noted that the authorities bureau sent 9,861 BTC (worth $219 million) seized from the Silk Road hacker to Coinbase.
In 2022, the US authorities sought the forfeiture of 51,351 Bitcoin seized from James Zhong. At the time, the assets were valued astatine implicit $3 billion.
On-chain expert Lookonchain corroborated Glassnode’s report, adding that the bureau transferred 39,175 BTC ($867M) to 2 caller addresses.
US govt BTC holding
Before today’s transactions, Glassnode said the US government’s estimated Bitcoin holding was 144,500 BTC, making the state a crypto whale.
Source: GlassnodeMeanwhile, the bulk of the US acquisitions were done done seizures. In 2022, the US Department of Justice seized $3.6 cardinal worthy of Bitcoin connected to the 2016 Bitfinex hack. Before that, the government took 70,000 BTC from Ross Ulbricht erstwhile it brought down the Silk Road.
However, the state tends to auction disconnected its seized crypto assets. As of Feb. 2022, the US authorities held $4.08 cardinal of Bitcoin.
Bitcoin sheds 2% successful 24 hours
Bitcoin dumped 1.67% implicit the past 24 hours to commercialized astatine $22,048 arsenic of property time, according to CryptoSlate’s data.
The US bureau transfers birthed speculations wrong the community, with galore fearing a sell-off. Usually, BTC inflows into exchanges summation the selling unit connected the asset.
With BTC giving up overmuch of its January and February gains, Glassnode’s data showed that the fig of addresses holding BTC astatine a Loss connected the 7 days moving mean metrics reached a 1-month precocious of 15,270,797.429.
Source: GlassnodeCryptoSlate Insight reported that astir $200 cardinal Bitcoin was withdrawn from exchanges connected March 7 — the 3rd highest withdrawal connected the year-to-date metric.
Meanwhile, Fed Chair Jerome Powell’s caller statement astir expanding involvement rates further exacerbated its terms performance.
The station U.S. bureau moves implicit 9k BTC to Coinbase: Glassnode appeared archetypal connected CryptoSlate.
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