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Silk Road–Linked Bitcoin Worth $300M Moved by U.S. Government: On-Chain Data
The U.S. government previously sold 9,861 bitcoin for $216 million in March.
Updated Jul 13, 2023, 9:46 p.m. Published Jul 12, 2023, 2:28 p.m.
Two wallets tagged as belonging to the U.S. government and linked to the Silk Road seizure of crypto have moved over $300 million worth of bitcoin (BTC) in three separate transactions on Wednesday morning, on-chain data shows.
The price of bitcoin fell by 0.8% to $30,480 after the transaction was sent; it has since recovered to $30,660 as of press time.
Bitcoin's block explorer shows that the government-controlled wallets sent a total of 9,825 bitcoin ($301 million).
The same wallet transferred over $1 billion in bitcoin in March, a move that caused a slump across all major cryptocurrencies.
The U.S. government previously sold 9,861 bitcoin for $216 million in March. The sale came after the government seized 50,000 bitcoin linked to the Silk Road marketplace in November.
Oliver Knight
Oliver Knight joined CoinDesk as a news reporter in April 2022. Before joining CoinDesk, Knight was the Chief Reporter at Coin Rivet for three years. Having graduated with a journalism degree from Birmingham City University, Knight went on to work at various sports publications before diving into the world of Bitcoin in 2014. He does not have any crypto holdings.
