Speculation ran high on Wednesday over whether the US government’s bitcoin holdings were being sold by the thousands.
In a tweet, The Block’s director of research, Steven Y @dogetoshi, found a transaction labeled “Government: DOJ seized funds”.
Then thought it was user fault.
Crypto veteran Adam Cochrane echoed this, saying that one user had “a wallet tagged as Silkroad on his local end, so it was not an Arkham alert that went out to traders/bots.”
“There may still be other news,” Cochran said.
it would not have been the first
The US government sold more than 9,800 bitcoins linked to the Silk Road in early March for about $215 million. blockworks,
According to the news site, the executives also said that they plan to sell another 41,500 bitcoins this year in a series of four batches.
rumors spread again end of April Regarding the possible involvement of the US government with bitcoin wallets.
According to a previous Cryptonews.com report, a report by blockchain analytics firm Arkham claimed that now-defunct crypto exchange MT Gox and a wallet linked to the US government had transferred substantial amounts of bitcoin.
Arkham CEO Miguel Morel said the wallet activities were not linked, meaning the US was not actually responsible for transferring or selling assets belonging to Mt Gox.
The bitcoin price dropped from near $28,000 to just under $27,000 on Wednesday at 1:30 p.m. ET.
As of Wednesday afternoon, the price of bitcoin reached close to $27,700.