US Government Executes Massive Bitcoin Transfer
The US government has recently made significant moves in the crypto market, with reports revealing multiple massive Bitcoin transactions. Blockchain analytics firm Arkham Intelligence detected these large transfers less than 24 hours ago.
According to Arkham Intelligence, the US government moved approximately 15,085 BTC, which is valued at around $923 million. The data from the analytics platform shows that the government executed these transactions from two separate wallet addresses.
The funds in these wallet addresses were seized by the government from Bitfinex in 2016 after the exchange was hacked. Arkham Intelligence reported that the whale transactions took place in four distinct transfers within a day.
Based on the current market price of Bitcoin, the value of BTC transferred from the first wallet was approximately $172.80 million, while the second wallet contained about $750 million worth of BTC. This brings the total value of assets transferred to approximately $923 million.
The US government currently holds over 200,000 BTC, valued at $12.50 billion, according to Arkham Intelligence. It also owns more than 56,000 ETH, making Ethereum its second-largest asset.
In addition to Bitcoin and Ethereum, the government’s portfolio includes other notable cryptocurrency assets like AUSDC, USDC, and DAI. Overall, it now holds approximately $12.73 billion worth of crypto holdings in its openly accessible wallet.
Potential BTC Accumulation by a National Government
Whistleblower Edward Snowden has made a shocking prediction that has caught the attention of the crypto community. On social media platform X (formerly Twitter), Snowden revealed that “a national authority” will soon disclose its ongoing acquisition of Bitcoin.
Snowden further stated that this national government will be using BTC as an alternative to conventional gold reserves. However, he did not specify which country is responsible for this action, leaving the crypto community speculating.
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