Summary:
On-chain analysts just caught the U.S. government moving around billion worth of its massive BTC holdings, sparking market panic that it might be preparing for another sale. Meanwhile, Bitcoin’s price has steadily declined throughout the day, tapping ,000 at 13:15pm UTC before crashing to ,900 by 17:26 UTC. At 16:18 UTC, data from Arkham Intelligence showed that the government’s Bitcoin wallet had moved 29,799 BTC (.02 billion) to a new blockchain address. That billion was subsequently split into two addresses, one of which received exactly 10,000 BTC worth 9.35 million. “We believe this represents a 10,000 BTC deposit to an institutional custody/service,” Arkham said over Twitter on Monday. Historically, the government has sold whatever BTC it owns in
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Andrew Throuvalas considers the following as important: AA News, Bitcoin (BTC) Price, United States
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On-chain analysts just caught the U.S. government moving around billion worth of its massive BTC holdings, sparking market panic that it might be preparing for another sale. Meanwhile, Bitcoin’s price has steadily declined throughout the day, tapping ,000 at 13:15pm UTC before crashing to ,900 by 17:26 UTC. At 16:18 UTC, data from Arkham Intelligence showed that the government’s Bitcoin wallet had moved 29,799 BTC (.02 billion) to a new blockchain address. That billion was subsequently split into two addresses, one of which received exactly 10,000 BTC worth 9.35 million. “We believe this represents a 10,000 BTC deposit to an institutional custody/service,” Arkham said over Twitter on Monday. Historically, the government has sold whatever BTC it owns in
Topics:
Andrew Throuvalas considers the following as important: AA News, Bitcoin (BTC) Price, United States
This could be interesting, too:
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On-chain analysts just caught the U.S. government moving around $2 billion worth of its massive BTC holdings, sparking market panic that it might be preparing for another sale.
Meanwhile, Bitcoin’s price has steadily declined throughout the day, tapping $70,000 at 13:15pm UTC before crashing to $66,900 by 17:26 UTC.
- At 16:18 UTC, data from Arkham Intelligence showed that the government’s Bitcoin wallet had moved 29,799 BTC ($2.02 billion) to a new blockchain address.
- That $2 billion was subsequently split into two addresses, one of which received exactly 10,000 BTC worth $669.35 million.
- “We believe this represents a 10,000 BTC deposit to an institutional custody/service,” Arkham said over Twitter on Monday.
- Historically, the government has sold whatever BTC it owns in batches of a few thousand Bitcoin at a time – some of which haven’t been well timed in retrospect.
- Per Arkham’s latest figures, the government now has 183,439 BTC ($12.25 billion) remaining in its coffers.
- The sale comes only days after both former President Donald Trump and candidate Robert F. Kennedy Jr promised to establish a national strategic reserve of Bitcoin if elected in November.
- Both candidates said the BTC currently held by the government would be the starting point for this stockpile.