Uncle Sam On The Move: US Government Transfers Millions In Bitcoin To Coinbase
Portfolio Pulse from Murtuza Merchant
The U.S. government has transferred 3,940 Bitcoin, valued at $241 million, to Coinbase. This move is part of a broader trend where governments sell or auction off cryptocurrencies acquired through criminal investigations or asset seizures. The U.S. government currently holds 213,546 Bitcoin, making it one of the largest Bitcoin holders globally.
June 26, 2024 | 7:54 pm
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POSITIVE IMPACT
The U.S. government transferred 3,940 Bitcoin to Coinbase, potentially increasing trading volume and interest in the platform.
The transfer of a large amount of Bitcoin to Coinbase by the U.S. government is likely to increase trading volume and interest in the platform, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100