Source: Pexel
Speculation arose on Wednesday as to whether the US government’s Bitcoin holdings would be sold by the thousands.
In a tweet, Steven or @Dogetoshi, director of research at The Block, found transactions labeled “Government: DOJ funds seized.”
It then seemed to be user error.
Crypto veteran Adam Cochran echoed this, saying that a user had marked the wallet as Silkroad on his “own local page,” so it wasn’t an Arkham alert being sent to traders/bots.
“There could be other news,” Cochran said.
It would not have been a premiere
According to Blockworks, the US government sold more than 9,800 Silk Road-linked Bitcoin for about $215 million in early March.
According to the news site, officials also said they plan to sell 41,500 more bitcoins in a series of four batches this year.
At the end of April, rumors circulated again about a possible involvement of the US government in Bitcoin wallets.
According to reports from blockchain analysis firm Arkham, wallets associated with now-defunct crypto exchange Mt Gox and the US government have transferred significant amounts of Bitcoin, according to previous cryptonews.com reports.
Arkham CEO Miguel Morel said the wallet activities were unrelated, implying that the US was not actually responsible for the move or sale of Mt. Gox-related assets.
The price of bitcoin fell sharply from just under $28,000 to just under $27,000 around 1:30 p.m. ET on Wednesday.
On Wednesday afternoon, bitcoin price recovered and approached the $27,700 level.
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