Saturday, October 18, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

US Government’s Bitcoin On The Move, But Are They Really Selling?

by Scott Matherson
August 3, 2024
in Cryptocurrency
Reading Time: 3 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


There have been speculations that the US authorities has bought a good portion of its Bitcoin holdings following its latest switch. On-chain information has helped clear up these rumors and confirmed precisely what the US authorities did with the $2 billion price of Bitcoin it transferred. 

Did The US Authorities Promote $2 Billion Value Of Bitcoin?

Knowledge from the on-chain analytics platform Arkham Intelligence reveals that the US authorities didn’t promote the virtually 30,000 BTC it just lately transferred. As a substitute, as Arkham Intelligence famous in a latest X (previously Twitter) put up, the US authorities merely cut up the $2 billion price of Bitcoin into two addresses. 

The federal government despatched 19,800 BTC ($1.33 billion) to a different of its pockets addresses (bc1qn) and the remaining 10,000 BTC ($669.35 million) to a different tackle believed to belong to an institutional custodian.

Because the outstanding crypto X account Bitcoin Archive talked about, shifting cash isn’t the identical as promoting them, and there are conditions through which the pockets tackle in query is just shifting these cash for safety causes or funding functions. 

Furthermore, an intention to promote one’s cash is often indicated by a switch to a centralized alternate (CEX) since these are the platforms with essentially the most liquidity to deal with such gross sales. Nonetheless, that isn’t the case on this occasion, seeing because the US authorities didn’t switch the $2 billion to Coinbase, the CEX it has used previously to dump a few of its Bitcoin holdings. 

In the meantime, it’s price noting that the US authorities has all the time been clear in its Bitcoin gross sales and often confirms to the general public at any time when it sells a few of its BTC. The final confirmed sale by the US Marshals service got here in March, that means the US authorities hasn’t bought any of its BTC since then. 

Why Is Bitcoin Dumping Then?

It was straightforward for the crypto neighborhood to invest that the US authorities had bought the $2 billion price of Bitcoin it transferred, seeing how the switch coincided with Bitcoin’s latest decline. Nonetheless, the flagship crypto is dumping for a number of different causes unrelated to the US authorities because it has been confirmed that they haven’t bought any BTC just lately. 

One motive why Bitcoin’s value is at the moment plummeting is because of the rising tensions within the Center East, with Iran seeking to retaliate in opposition to Israel based mostly on the assumption that the latter was accountable for the assassination of Hamas chief Ismail Haniyeh in Iran. Another excuse is the availability shock that Bitcoin might face with Genesis just lately shifting $1.5 billion in Bitcoin and Ethereum.  

In line with Arkham Intelligence, these transfers are probably for creditor repayments, that means Bitcoin might witness a wave of great sell-offs as Genesis repays its collectors. The macro aspect has additionally contributed to Bitcoin’s latest downtrend, with the US job development in July coming in decrease than anticipated. 

Featured picture from The Defiant, chart from TradingView



Source link

Tags: BitcoingovernmentsMoveSelling
Previous Post

MicroStrategy’s Michael Saylor Hails Epic Bitcoin Adoption Milestone By U.Today

Next Post

Olympics-Swimming-Ledecky confirms greatness with ninth gold medal By Reuters

Related Posts

Are miners now web accumulators? Marathon provides 400 BTC after the crash

Are miners now web accumulators? Marathon provides 400 BTC after the crash

by Index Investing News
October 15, 2025
0

Bitcoin (BTC) miner MARA Holdings purchased 400 BTC for roughly $46 million on Oct. 13, capitalizing within the market collapse...

Citi Warned Stablecoins Could Drain Banks, Now Backs Their Tech

Citi Warned Stablecoins Could Drain Banks, Now Backs Their Tech

by Steven Walgenbach
October 10, 2025
0

Be a part of Our Telegram channel to remain updated on breaking information protection Citigroup has invested in stablecoin infrastructure...

M crypto shorts liquidated in the past hour

$80M crypto shorts liquidated in the past hour

by Vivian Nguyen
October 5, 2025
0

Key Takeaways Roughly $80 million in crypto quick positions have been liquidated in a single hour. Brief positions guess on...

Solana Ecosystem To Gain Boost With New Alliance Between Crypto.com And Sharps Technology – Details

Solana Ecosystem To Gain Boost With New Alliance Between Crypto.com And Sharps Technology – Details

by Godspower Owie
September 30, 2025
0

Trusted Editorial content material, reviewed by main trade consultants and seasoned editors. Advert Disclosure The Solana blockchain is unquestionably within...

Shiba Inu Price Eyes Recovery From Demand Zone

Shiba Inu Price Eyes Recovery From Demand Zone

by Coingapestaff
September 25, 2025
0

The Shiba Inu worth has drawn consideration as its chart reveals tightening consolidation close to a key demand zone. The...

Japan’s debt reckoning and the global economic warning

Japan’s debt reckoning and the global economic warning

by Christina Comben
September 20, 2025
0

Japan’s monetary markets are sending out a warning siren, not only for Tokyo, however for the remainder of the world....

Next Post
Olympics-Swimming-Ledecky confirms greatness with ninth gold medal By Reuters

Olympics-Swimming-Ledecky confirms greatness with ninth gold medal By Reuters

Hunter Biden to be Sentenced One Week After Election, Faces Up to 25 Years in Prison | The Gateway Pundit

Hunter Biden to be Sentenced One Week After Election, Faces Up to 25 Years in Prison | The Gateway Pundit

HDFC Bank, ICICI Bank, UltraTech Cement, And More

HDFC Bank, ICICI Bank, UltraTech Cement, And More

October 18, 2025
Politics And The Markets 10/18/25

Politics And The Markets 10/18/25

October 18, 2025
South Carolina Supreme Court Issues Death Warrant for Killer in 2004 Case, Must Choose Method of Execution by October 31st | The Gateway Pundit

South Carolina Supreme Court Issues Death Warrant for Killer in 2004 Case, Must Choose Method of Execution by October 31st | The Gateway Pundit

October 18, 2025
Economic decolonisation reshaping entrepreneurship – The Hindu BusinessLine

Economic decolonisation reshaping entrepreneurship – The Hindu BusinessLine

October 18, 2025
Chile Aims for Sustainable Port Expansion – VIDEO — Global Issues

Chile Aims for Sustainable Port Expansion – VIDEO — Global Issues

October 18, 2025
Facebook’s new button lets its AI look at photos you haven’t uploaded yet

Facebook’s new button lets its AI look at photos you haven’t uploaded yet

October 18, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

HDFC Bank, ICICI Bank, UltraTech Cement, And More

Politics And The Markets 10/18/25

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In