web3.0The US Government Just Sold $2B Worth of Bitcoin, Dealing a Blow to Trump's 'Stockpile' PlansThe US Government Just Sold $2B Worth of Bitcoin, Dealing a Blow to Trump's 'Stockpile' Plans
In a potentially highly politically charged move, the US. Democratic government orchestrated the transfer of 29,800 Bitcoin
The United States government has sold 29,800 Bitcoin, currently valued at around $2 billion, according to crypto intelligence platform Arkham, which first reported the development on Monday.
This large sum of Bitcoin was split into two separate addresses, with 10,000 BTC now residing in bc1qlap8 and 19,800 BTC in bc1qngy, Arkham analysts noted. They believe the 10,000 BTC represents a deposit to an institutional custody or service, potentially signaling preparation for sale.
These transactions occurred soon after former U.S. President and current presidential candidate Donald Trump declared at the Bitcoin 2024 conference on Saturday that he intends to prevent the U.S. government from selling its significant BTC holdings. Before yesterday’s move, the U.S. government held over 213,000 BTC.
Trump vowed to block any sales of the government’s BTC holdings, envisioning them as the cornerstone of a new “strategic national Bitcoin stockpile.” At the same time, Vice President Kamala Harris’s advisers have been engaging with leading crypto companies in an effort to “reset” relationships. This outreach reportedly aimed to close gaps between the Democratic party and the Bitcoin and crypto sector, which recently emerged as a crucial supporter of Trump, Harris’s direct competitor in the presidential race.
However, this activity involving the sale of BTC tells a different story and may indicate a shift in strategy, contrasting sharply with the outreach efforts. According to various experts from the Bitcoin and crypto industry, this development suggests a move to thwart Trump’s “stockpile” plans.
Despite this sale, the U.S. government still possesses 183,439 BTC, valued at approximately $12.6 billion — assets that could be further liquidated before Trump’s potential inauguration in January 2025 if he were to win the election.
Reactions From The Bitcoin Industry
David Bailey, CEO of Bitcoin Magazine and a adviser to the Trump campaign, was among the first to criticize the move, stating: “Just landed in Miami and see the Harris administration is preparing to dump 30,000 BTC just to spite DJT. Would be a massive political blunder for Dems. If they continue plundering America’s bitcoin they will permanently spurn a generation of voters.”
Eric Weiss, CEO of the Bitcoin Investment Group, echoed this sentiment, highlighting the political risk involved: “The Biden/Harris administration giving a master class on how to lose 30 million votes.”
Mike Novogratz, CEO of Galaxy Digital, criticized the decision’s timing and political sensitivity, especially following Trump’s public commitment to preserving the government’s holdings. “Tone deaf anyone??? Moving Silk Road BTC two days after Trumps pledge to not move them is just dumb!!!!” he commented.
Tyler Winklevoss, co-founder of the crypto exchange Gemini, pointed to the broader implications for the Biden-Harris administration’s relationship with the crypto industry. Winklevoss’s ironic remark underscored the tensions between the crypto industry and US dems: “On Saturday, Donald Trump pledged to never sell any of the U.S. government’s bitcoin. Two days later, the Biden-Harris Administration moves $2 billion of Silk Road bitcoin. Great look and great way to reset with our industry.”
Crypto analyst MacroScope (@MacroScope17) speculated on potential countermeasures from Trump, suggesting a political retaliation that could resonate with Bitcoin advocates and voters alike: “If the government now sells BTC after Trump’s pledge, watch for him to hit back hard by promising to instruct the Treasury to re-buy it (RFK/Lummis-type proposal) to restock US reserves.”
Peter Schiff, a known critic of Bitcoin, critiqued Trump’s original plan, noting: “If Trump really intended to use seized Bitcoin to start a U.S. ‘strategic’ reserve, he’d have kept his intention a secret until he was actually in office. Now that the Biden administration is wise to his plan, they’ll make sure to sell every Satoshi before Trump takes office.”
At press time, BTC traded at $66,656.
The above is the detailed content of The US Government Just Sold $2B Worth of Bitcoin, Dealing a Blow to Trump's 'Stockpile' Plans. For more information, please follow other related articles on the PHP Chinese website!
amazon project kuiper satellite launchApr 10, 2025 pm 05:36 PMAmazon's Project Kuiper satellite launch was postponed due to unfavorable weather conditions. The delay was likely influenced by factors such as high-altitude wind shear, lightning threats, and high surface winds, which are common hazards in space launches. This postponement highlights the need for meticulous planning and flexibility in the unpredictable environment of space operations.
Is Wall Street Quietly Backing Solana? $42 Million Bet Says YesApr 10, 2025 pm 12:43 PMA group of former Kraken executives acquired U.S.-listed company Janover, which secured $42 million in venture capital funding to begin building a Solana (SOL) treasury.
Kevin O'Leary Urges Trump to Impose 400% Tariff on Chinese GoodsApr 10, 2025 pm 12:35 PMCanadian businessman and investor Kevin O’Leary urged the Trump administration to impose a 400% tariff on Chinese goods, arguing that the current 104% tariff is insufficient to compel China to follow trade rules. O’Leary said these statements prior t
Regulatory roadblocks are crumbling as the U.S. Treasury signals a sweeping pivot toward blockchain, stablecoins, and digital assetsApr 10, 2025 pm 12:27 PMU.S. Treasury Secretary Scott Bessent laid out a broad financial reform agenda at the Bankers Association Summit on April 9, pledging to remove regulatory barriers
China and Russia Have Started to Settle Some Trade Deals Using BitcoinApr 10, 2025 pm 12:19 PMAccording to a report by VanEck, China and Russia have started to settle some trade deals using Bitcoin.
Skybridge Capital's founder warns China is preparing fierce economic retaliation as the U.S. slaps 125% tariffs on Chinese goods, signaling currency shocks, massive stimulus, and financial warfare.Apr 10, 2025 pm 12:03 PMucci Outlines 5-Point Forecast on China's Next Moves Amid Rising Trade Tensions
Ethereum (ETH) Underperforms Bitcoin (BTC)Apr 10, 2025 pm 12:01 PMunderperformed Bitcoin on 85% of all trading days since it launched in 2015. The ETH/BTC ratio, which tracks the value of Ether relative to Bitcoin, dropped to a five-year low of 0.018
President Trump's Tariff Announcement Sent Bitcoin Dropping 5.4%Apr 10, 2025 am 11:53 AMIn the world of cryptocurrencies, few events can shake things up like big government decisions. President Trump's recent tariff announcement did exactly that
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.
ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment
SublimeText3 Chinese version
Chinese version, very easy to use
PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool
SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.
