US Government Moves 10,000 BTC Amid Market Dip, Holds Over $12 Billion in Bitcoin

In a significant development, a wallet associated with the US government has just moved over 10,000 Bitcoin (BTC), as revealed by data from Arkham Intelligence. This transaction comes from an address that had received a similar amount of BTC from a government-linked wallet two weeks prior. The latest transfer echoes a previous $2 billion Bitcoin movement by the US government in late July. Following this recent activity, Bitcoin’s price experienced a slight decline, dipping 1.2%, according to Crypto Briefing. As of now, Bitcoin is trading at approximately $59,000, reflecting a 3% drop over the past 24 hours.

Arkham's analysis highlights that the US government currently holds a staggering 203,200 BTC, positioning it as the world's largest national Bitcoin holder. This cache of Bitcoin, valued at around $12 billion at current market rates, predominantly stems from law enforcement seizures, most notably from the infamous Silk Road case, where authorities confiscated roughly 174,000 BTC from the dark web marketplace.

In addition to its Bitcoin holdings, the US government also possesses over 50,000 Ether (ETH), with a market value of about $134 million. Earlier this month, Arkham reported a transfer of 300 ETH, worth around $699,000, to a newly created wallet, indicating ongoing management of its crypto assets.