{"id":21863,"date":"2024-08-15T15:32:56","date_gmt":"2024-08-15T15:32:56","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=21863"},"modified":"2026-07-14T15:50:18","modified_gmt":"2026-07-14T15:50:18","slug":"bitcoin-drops-to-59000-as-us-government-moves-to-sell-more-btc","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/bitcoin-drops-to-59000-as-us-government-moves-to-sell-more-btc\/","title":{"rendered":"Bitcoin Drops To $59,000 As US Government Moves To Sell More BTC"},"content":{"rendered":"<p><em><strong>Bitcoin continues facing sell pressure from both Mt. Gox and the Department of Justice.<\/strong><\/em><\/p>\n<p>Bitcoin fell 2.5% on Wednesday to $59.100 after the U.S. government moved more of its Silk Road-affiliated Bitcoin holdings to Coinbase Prime.<\/p>\n<ul>\n<li>On-chain analysis platform Arkham Intelligence flagged the move on Wednesday, noting that 10,000 BTC worth $593 million had been moved.<\/li>\n<li>\u201cWallet bc1ql received 10K BTC from a known US Government wallet 2 weeks ago,\u201d Arkham wrote to Twitter. \u201cThis BTC has just been sent on to 33J, a Coinbase Prime deposit wallet.\u201d<\/li>\n<li>According to Arkham, the U.S. government\u2019s Bitcoin wallet still holds 203,239 BTC, worth $12 billion.<\/li>\n<li>Much of that Bitcoin was seized from the hacker of the fallen darknet marketplace Silk Road in 2021. At the time, the 50,000 BTC seizure amounted to the largest financial seizure ever conducted by the Department of Justice.<\/li>\n<li>This record was later broken months later when the DOJ seized 94,600 BTC from Heather \u2018Razzlekhan\u2019 Morgan and her husband, Ilya Lichtenstein, who together hacked the Bitfinex crypto exchange.<\/li>\n<li>The movement to Coinbase implies that the government continues selling its BTC, despite Donald Trump\u2019s promise to forever HODL the government\u2019s current coins if elected president in November.<\/li>\n<li>It\u2019s also coupled with ongoing BTC redistributions to Mt. Gox creditors. Arkham flagged a $2 billion Bitcoin move on Tuesday of creditor\u2019s coins from BitGo\u2019s blockchain wallet.<\/li>\n<\/ul>\n<p>Source: www.cryptopotato.com<\/p>\n<p><!-- related-seo --><\/p>\n<div class=\"related-seo\">\n<h3>Related articles<\/h3>\n<ul>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/mt-gox-transfers-2-2-billion-in-btc-to-new-address-amid-bitcoin-price-retreat\/\">Mt. Gox Transfers $2.2 Billion in BTC to New Address Amid Bitcoin Price Retreat<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/bitcoin-stagnates-as-whales-sell-13-billion-in-30-days\/\">Bitcoin Stagnates as Whales Sell $13 Billion in 30 Days<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/bitcoin-decline-or-consolidation\/\">Bitcoin \u2013 Decline or Consolidation?<\/a><\/li>\n<\/ul>\n<\/div>\n<p><!-- \/related-seo --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin dropped 2.5% to $59,100 after the US government moved 10,000 BTC linked to Silk Road.<\/p>\n","protected":false},"author":1,"featured_media":21886,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"Bitcoin Drops to $59,000 as US Government Plans to Sell More BTC","rank_math_description":"Bitcoin falls to $59,000 following US government\u2019s sale of 10,000 BTC. Read the latest updates and market impact analysis.","rank_math_focus_keyword":"bitcoin drop US government","_forpost_external_id":"","_seorun_article_id":"","footnotes":""},"categories":[369],"tags":[852,876,11800,9505,2842],"class_list":["post-21863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-bitcoin-en","tag-btc-en","tag-cryptocurrency","tag-sale","tag-us-government","resize-featured-image"],"lang":"en","translations":{"en":21863,"uk":21864,"ru":21865},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/21863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/comments?post=21863"}],"version-history":[{"count":3,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/21863\/revisions"}],"predecessor-version":[{"id":47564,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/21863\/revisions\/47564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media\/21886"}],"wp:attachment":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media?parent=21863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/categories?post=21863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/tags?post=21863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}