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Silk Road–Linked Bitcoin Worth $300M Moved by U.S. Government: On-Chain Data
The U.S. government previously sold 9,861 bitcoin for $216 million in March.
Updated Jul 13, 2023, 9:46 p.m. Published Jul 12, 2023, 2:28 p.m.
Two wallets tagged as belonging to the U.S. government and linked to the Silk Road seizure of crypto have moved over $300 million worth of bitcoin in three separate transactions on Wednesday morning, on-chain data shows.
The price of bitcoin fell by 0.8% to $30,480 after the transaction was sent; it has since recovered to $30,660 as of press time.
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Bitcoin's block explorer shows that the government-controlled wallets sent a total of 9,825 bitcoin ($301 million).
The same wallet transferred over $1 billion in bitcoin in March, a move that caused a slump across all major cryptocurrencies.
The U.S. government previously sold 9,861 bitcoin for $216 million in March. The sale came after the government seized 50,000 bitcoin linked to the Silk Road marketplace in November.
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