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Silk Road–Linked Bitcoin Worth $300M Moved by U.S. Government: On-Chain Data

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The U.S. government previously sold 9,861 bitcoin for $216 million in March.

AccessTimeIconJul 12, 2023 at 9:28 a.m. CDT
Updated Jul 12, 2023 at 11:15 a.m. CDT

Two wallets tagged as belonging to the U.S. government and linked to the Silk Road seizure of crypto have moved over $300 million worth of bitcoin (BTC) in three separate transactions on Wednesday morning, on-chain data shows.

The price of bitcoin fell by 0.8% to $30,480 after the transaction was sent; it has since recovered to $30,660 as of press time.

Bitcoin's block explorer shows that the government-controlled wallets sent a total of 9,825 bitcoin ($301 million).

The same wallet transferred over $1 billion in bitcoin in March, a move that caused a slump across all major cryptocurrencies.

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The U.S. government previously sold 9,861 bitcoin for $216 million in March. The sale came after the government seized 50,000 bitcoin linked to the Silk Road marketplace in November.

Edited by Nelson Wang.

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