Donald Trump

Silk Road

Arkham

Drops

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). 
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 BREAKING: The US. Government just moved $2B of Bitcoin to a new address: bc1qsl993y04xnq4fyhmrt6cnmctgjjv9ukdvrk0cd <a href="https://t.co/JQvjKIuRNn" target="_blank">pic.twitter.com/JQvjKIuRNn</a>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1817962145985724629?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 29, 2024</a>
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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 <a href="https://twitter.com/ArkhamIntel/status/1817975722662670643?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1817975722662670643%7Ctwgr%5Ea3554d9e9e8d1e7d0ae2be795090d655a30b069b%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.coindesk.com%2Fmarkets%2F2024%2F07%2F29%2Fbitcoin-tumbles-below-67k-as-us-government-moves-2b-of-silk-road-tokens%2F" target="_blank" rel="noreferrer noopener">moved</a> 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.&nbsp; 
After the transfer, Bitcoin <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener">continued</a> 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. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/23/u-s-govt-transfers-4m-in-seized-bitcoin-to-unidentified-wallet/" target="_blank" rel="noreferrer noopener">U.S. Govt Transfers $4M in Seized Bitcoin to Unidentified Wallet</a> 
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US Gov. Moves $2B Silk Road Bitcoin, Price Drops Below $67K

The Crypto Times

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