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The US government transferred 30,175 Bitcoin (BTC) to a recognized as part of the crypto exchange Coinbase.
This move represents a substantial $2 billion, calculated at the prevailing Bitcoin price of approximately $65,000 per BTC.
US Government Moves $2 Billion in Bitcoin
This action follows the US government’s previous engagement with the cryptocurrency market. In March 2023, the government auctioned 9,861 BTC, netting $216 million. The government seized these coins as part of a larger cache from the infamous Silk Road website in late 2022, totaling around 50,000 BTC.
Bitcoin experienced a modest dip following the transfer, falling below the $65,000 mark. It has since made a minor recovery, stabilizing at $65,500, though it marks a 6.82% decrease over the last 24 hours.
