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The US government transferred over $297 million worth of Bitcoin (BTC) seized by the Silk Road hacker in March.
The total amount stolen by the hacker in March was over $1 billion — 49,000 bitcoins. At the current price, the total assets would be worth about $1.5 billion as BTC is above the $30,000 mark.
Additionally, the US government has transferred 9,825 bitcoins — worth $298.7 million at the time of writing — to various addresses. Of these, the authorities transferred 1,625 coins to two new addresses, while the remaining 8,200 tokens were put into eight whale wallets in 101 transactions – with most transactions containing 79.2 bitcoins.
The whales’ addresses had been dormant for the past two years, according to on-chain data. It is important to note that 9,825 coins sat in Coinbase while the remaining 39,175 bitcoins were sent to new addresses.
The big move by the US government comes as BTC price is down 1.3% in the past 24 hours to hit a daily high of $30,959. At the time of writing, Bitcoin is trading at around $30,400. However, the asset’s 24-hour trading volume surged to $14.5 billion, up 22%.
BTC price – July 13 | Source: TradingView
A July 12 report showed that Bitcoin investors have turned to self-custodial wallets as the total number of BTC on exchanges hit a five-year low.
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