U.S. Government Did Not Sell 10,000 BTC Transferred to Coinbase Prime - Samson Mow
- PHPzOriginal
- 2024-08-16 00:06:131061browse
Many crypto experts and on-chain investors became excited today, when it was revealed that U.S. authorities transferred 10,000 BTC
U.S. authorities have transferred 10,000 BTC ($593 million) to Coinbase Prime, sparking speculation about an imminent sale.
However, Samson Mow claims that the crypto funds were moved for safekeeping a few weeks ago, and the government has no plans to sell them.
On-chain data reveals that these are crypto assets seized from the Silk Road case, with the court approving an order to sell them in December 2023.
As a rule, transferring assets to an exchange's escrow address indicates an intent to sell them, which has traders worried.
Recently, Germany sold a portion of its Bitcoin holdings, which caused a sharp decline in the first cryptocurrency's price.
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