US Government Sold 9,800 BTC

Earlier this month U.S. authorities transferred $1 billion worth of Bitcoin recovered from a dark web hack to new wallet addresses, including one owned by Coinbase.

Today, as per they have sold a chunk of it:

[DB] US Govt Sold 9,800 BTC on March 14, Intends to Sell a Further 41,500 BTC Connected to Silk Road in Four Batches Over the Course of the Year: Court Filing

Let's see whether they will be able to scare retail this time

50 thoughts on “US Government Sold 9,800 BTC”

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  2. Oh selling BEFORE cracking down on crypto and halting its gains. I wonder if there is a legal term for this.

  3. What a timing they picked to dump those BTC back in the market . So who’s stacking on those Satoshi any idea ?

  4. So weird they sold them like 1 – 2 years early. imo byc could easily 3x by then. I guess they are desperate or extremely bearish

  5. Good, the US gov is a massive whale so they’re accidentally helping with decentralization

  6. The US government holds over 205,000 bitcoin, which is over 1% of the circulating supply. This makes it the 7th largest holder of Bitcoin, after Coinbase, Satoshi Nakamoto, Grayscale, Binance, MicroStrategy, and the Winklevoss Twins.

    The US government acquired these Bitcoins through seizures from criminal cases, including:

    The Silk Road marketplace, where the government seized 69,369 bitcoins

    The 2016 hack of the cryptocurrency exchange Bitfinex, where the government seized 94,636 bitcoins

    a case involving James Zhong who pleaded guilty to wire fraud after unlawfully obtaining over 50,000 bitcoin from The Silk Road marketplace

  7. By those numbers that means they sold at an average of under 22k, insane timing lol

  8. I’ve said it before and I’ll say it again. Governments and institutions love and use crypto when it’s convenient and profitable for them. They oppose the masses using it because it weakens their monopoly on the financial sector

  9. Classic hypocrites. They tax and even use crypto but are still putting on a show that it’s something fundamentally evil lol.

  10. The irony of Coinbase making trading fees on US Government crypto sales.


  11. Maybe they should consider using some of that cash to compensate all the crypto scam victims out there, just a thought 🤔

  12. The government: Calls Bitcoin worthless

    Also the government: Exchanges said “worthless” asset for $1 BILLION USD.

  13. Wow papa powell doesn’t believe raising interest rates is enough, now he’s convinced the NSA FBI CRA CIA CDC to dump their biti-coins on us.

  14. Damn. They’re getting their sales in before the crackdown. Can’t wait for them to ban crypto shortly after. /s

  15. US is paper handing BTC. Right before the Bull Market starts. This might actually kick off the Bull Market.

  16. They intend to sell in 4 more batches throughout this year. There we go folks, no bitcoin ban at least for 2023, on top of that they want us to buy bitcoin. Bullish.

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