According to a tweet from on-chain data company
Arkham, the U.S. government has transferred $1.92 billion worth of Bit to new addresses, with 10,000 Bit (worth around $963 million) already transferred to the Coinbase exchange. The U.S. government currently still holds 188,309 Bit, worth around $18 billion.
Is the U.S. government preparing to sell Bit again?
Is the U.S. government preparing to sell Bit again? At the end of last year, the U.S. officially seized 69,370 Bit and other cryptocurrencies related to Silk Road, and transferred them out at the end of July, with 10,000 Bit transferred to Coinbase and sold in mid-August.
The U.S. Marshals Service (USMS), the agency responsible for "asset forfeiture," announced in July that it had selected Coinbase Prime to provide custody and "advanced trading services" for large digital assets.
(
Coinbase wins favor with U.S. Marshals Service, collaborates to provide crypto asset custody services)
Whenever news of the U.S. government selling Bit emerges, it often causes market panic. Will the 10,000 Bit transferred to Coinbase have an impact on the market?
Bit continues to hover at high levels
Bit reached a new all-time high of $99,588 on 11/22, but has failed to break the $100,000 mark multiple times, and has been hovering above $90,000 recently.
MicroStrategy, which calls itself a Bit development company, announced yesterday that it has spent an additional $1.5 billion to buy 15,400 BTC. As of December 2, 2024, MicroStrategy owns 402,100 Bit, far more than the U.S. government's 188,309 Bit.
With Trump about to take office, the expected relaxed regulatory environment is causing institutions to increase their interest in Bit. Will Bit be able to lead everyone to new highs in this bull market?
(
Bit spot ETFs hold more Bit than Satoshi! Imbalance between supply and demand will lead to a rise in BTC prices)
