The US government has acquired a significant amount of Bitcoin through various seizures and transfers over the years. Court filings indicate that as of March 27, the US government held over 205,000 BTC, making it the largest known holder of the cryptocurrency.
Among these seizures, a substantial amount was obtained from an individual, referred to as X, who had connections to the Silk Road marketplace. This resulted in the US government acquiring 69,369 BTC. Additionally, a further 50,000 bitcoins were seized from James Zhong, who is also linked to the Silk Road.
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The US government sold 9,861 Bitcoin in March. Now, according to the latest data, the two wallets that belong to the US government have transferred Bitcoin worth over $300 million.
US government moves Bitcoin worth over $300 million
According to the on-chain data, over $300 million worth of BTC was moved in three separate transactions. The data shows that the wallet sent a total of 9,825 BTC.
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CoinMarketCap data shows that the price of BTC shot up by 0.7% in the last 24 hours. Bitcoin’s recent movement towards $31,000 can also be attributed to the recent inflation data. BTC was trading at $30,740 at press time.