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Silk Street Bitcoin Price $2B Moved by U.S. Authorities: On-Chain Information

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A pockets tagged as belonging to the U.S. authorities moved 30,175 bitcoins to what’s reported to be a Coinbase pockets late Tuesday morning.

At bitcoin’s (BTC) present value across the $65,000 stage, that will be roughly $2 billion value of the token.

The final confirmed sale by the federal government – which in late 2022 seized roughly 50,000 bitcoins associated to the Silk Street web site – was in March 2023 when it unloaded 9,861 cash for $216 million.

This morning’s motion of bitcoins was to an unidentified pockets, however Arkham Intelligence has tagged the pockets as belonging to crypto alternate Coinbase.

Already sharply decrease on the day, bitcoin slipped a bit additional following the information, dipping beneath $65,000. It is since bounced a bit, now buying and selling at $65,200, down 4.7% over the previous 24 hours. The broader CoinDesk 20 Index is decrease by the identical quantity.

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