US Government's $300M Bitcoin Move Related To Silk Road Scam Causes Market Stir
Portfolio Pulse from Murtuza Merchant
The US government, associated with the Silk Road confiscation, transferred Bitcoin valued at over $300 million, causing a slight dip in Bitcoin's value. This is not the first significant transaction from this wallet, with a previous transfer of over $1 billion in Bitcoin triggering a downturn in major cryptocurrencies. The government has previously sold 9,861 Bitcoin for $216 million.
July 12, 2023 | 6:27 pm
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The US government's transfer of Bitcoin valued at over $300 million caused a slight dip in Bitcoin's value. This follows a previous transfer of over $1 billion in Bitcoin that triggered a downturn in major cryptocurrencies.
The news of the US government's large Bitcoin transfer could cause uncertainty among investors, leading to a short-term dip in Bitcoin's value. This is further supported by the fact that a previous large transfer from the same wallet triggered a downturn in major cryptocurrencies.
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