One step ahead ๐ง You can't really hold all your Bitcoin if you have none left to hold. Just days after Trump promised to hold all of the nation's Bitcoin upon his reelection and create a national Bitcoin reserve, the current administration may have other plans. According to the blockchain analytics platform Arkham Intelligence, a wallet linked to the US government recently moved over $2B worth of BTC, originally seized from the Silk Road marketplace to a new address. However, it remains to be seen whether these funds will be sent to centralized exchanges and sold. Yet, the movement of the funds was enough to induce panic among the crypto community, triggering a selloff on Bitcoin and pushing its price downward by 1.5% from $67,800 to $66,800. On the other hand, Adam Cochran put out a reminder that Coinbase Prime has an agreement with the US Marshals Service to manage and dispose of their crypto assets, implying that a transfer might not materialize into actual selling. Editor's Note: Although the timing is suspect, and $2B is indeed a very big sum, it's evident from the past few months that Bitcoin is more than capable of surviving situations such as this. Mt.Gox and the US government selling BTC are nothing new, and if anything, they have given willing buyers an opportunity to simply buy the dip. |
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