US Government Transfers $2 Billion in Seized Bitcoin to New Wallet

A tipping point has been hit with the United States and Cryptocurrency. After several years of painting “crypto” as the “bad guy,” we’re seeing both sides of the political spectrum bend towards adoption. (About time!)

The United States government has transferred over $2 billion worth of Bitcoin, seized in connection with the Silk Road dark web marketplace, to an unidentified wallet, according to on-chain data from Arkham Intelligence.

This transfer comes just two days after former President Donald Trump, the Republican candidate in this year’s presidential election, announced at the Bitcoin 2024 conference in Nashville that he would establish a national “strategic Bitcoin stockpile” if elected. Trump stated that under his plan, the government would no longer sell any seized Bitcoin.

It remains unclear whether the United States intends to sell the recently transferred Bitcoin.

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