Analysts reveal why the US government moved $ 2 billion in bitcoin

The US government has transferred 30,175 bitcoins to the address bc1qky5fngatjzn7eflh5aajrdlstkmst38d2au478, provoking a wave of discussion among crypto community members. The value of the transferred BTC is about $ 2 billion.

The transaction was identified by a well-known online analyst ZachXBT, who shared the information with his Twitter followers. «30,175 BTC worth $ 2.1 billion controlled by the US government are in motion right now. 0.001 BTC worth $ 69 has been transferred to a Coinbase deposit address, so this may be a test transaction ,» ZachXBT said.

A short time later, he added that 1999 bitcoins worth $ 139 million were transferred to the same deposit address.

Over the years, the US government has repeatedly confiscated BTC from criminal organizations. In total, the US government has about 200,000 bitcoins in its possession. Earlier this month, the US government transferred $ 922 million worth of bitcoins from two cryptocurrency wallets. The funds confiscated from the hackers who hacked the Bitfinex crypto exchange back in 2016 were kept on them.

Last year in July, the US authorities moved bitcoins previously confiscated from Silk Road. In several transactions, government-affiliated wallets transferred more than 9824 BTC. Also in March 2023, the US government sold 9861 BTC for $ 215 million. This was only a fraction of the confiscated assets that remained at that time. The authorities planned to liquidate the cryptocurrency in four batches during the year.