like the price of bitcoin continues to recover, the digital asset has witnessed significant movements within the crypto market, recording significant whale transactions in recent days.
Mass bitcoin transfer by US government
bitcoin whales are on the move again, as recent reports have revealed multiple massive transactions executed by the United States government. The well-known blockchain analysis firm Arkham Intelligence detected the large movements made by the government less than 24 hours ago.
According to Arkham Intelligence, the US government recently moved around 15,085 btc, valued at approximately $923 million. Data from the analytics platform shows that the government moved the aforementioned btc from two separate wallet addresses.
Specifically, these two wallet addresses contained funds that were confiscated by the government from Bitfinex in 2016 after the crypto exchange was hacked. The intelligence platform reported that the whale transactions were made in four separate transfers in less than a day.
Based on the current market price of bitcoin, the total amount of btc transferred from the first wallet was $172.80 million, while the second wallet was approximately $750 million, making the total value of assets transferred to approximately $923 million.
Right now, the US government's bitcoin holdings amount to more than 200,000 btc, valued at $12.5 billion, according to the analytics firm. ethereum It is noted as the second largest asset owned by the authority, with over 56,000 eth.
He government portfolio It still has other notable cryptocurrency assets such as AUSDC, USDC, and DAI, among others. So far, Arkham shows that the government now holds a staggering $12.73 billion in cryptocurrency holdings in its open access wallet.
A national government could be hoarding btc
Whistleblower Edward Snowden has made a shocking prediction that has attracted significant attention in the crypto space. Edward Snowden has revealed a possible accumulation of btc by “a national government” on the social media platform X (formerly Twitter).
Snowden claimed that within a year, “it would be revealed that a national authority has been acquiring bitcoin” for quite some time. He further stated that the federal power will use btc instead of conventional gold reserves.
However, Snowden did not highlight which national government is responsible for this action on his X post, leaving members of the crypto community wondering which nation he is.
Featured image from iStock, chart from Tradingview.com
