The US government moved $2 billion worth of Bitcoin it took from the Silk Road to new addresses. This is in line with former President Donald Trump’s plan to stop selling Bitcoin owned by the government if he wins the election again.
The on-chain data from Arkham Intelligence showed that about 28,000 BTC were moved from the DOJ-confiscated funds on the Silk Road to two different accounts. The move has sparked a lot of interest and discussion in the crypto world.
Bitcoins were sent to the address ‘bc1qs’ at first, and then they were split between two new addresses. One got 10,000 BTC, which is worth $669.35 million, and the other got 19,800 BTC, which is worth $1.33 billion.
The US government still has more than $12 billion in Bitcoin, even after this move. It’s important that this exchange happened only two days after Trump said he would stop the sale of government Bitcoin if he won the election.
Just last week, Arkham Intelligence revealed that the US government transferred $4 million worth of confiscated Bitcoin to Coinbase, a popular cryptocurrency exchange.
