The US Government is dumping 30,175 Bitcoins on us!
Hi HODLers, Hiveans and Lions,
On Tuesday morning, a wallet tagged to be owned by the U.S Government moved 30,175 Bitcoins to a Coinbase wallet address.
This would be roughly $2bn worth of #bitcoin! This is a huge amount of Bitcoin.
These Bitcoins have been seized during the Silk Road crackdown.
Last time the government sold some of their Silk Road stack was in March 2023, when they sold 9,681 $BTC for $216mn! Following the news, Bitcoin price dumped even more and finally bounced back around $65,000!
Well, at least this is now behind us and price has been trending up over the past few hours.
I wonder what they will do with all that FIAT money though...
Stay safe out there,
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Hope they dump em hard, that's what the market likes the most. Flash-Crash into instant recovery mode.
So this is one of cause of bitcoin go down for moment
Very surprised you are wondering what the government will do with money.
Anyway that massive sell is worth a market shake, bitcoin has that quick come back this days. Thanks for the update
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