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On Wednesday, speculation swirled that thousands of Bitcoin held by the U.S. government were being sold.
@Dogetoshi, The Block’s director of research, tweeted that he found a transaction labeled “Government: Department of Justice Confiscated Funds.”
After that it seems it was a user error.
Crypto industry veteran Adam Cochrane echoed this, saying that users had tagged their wallets with their local end, Silk Road, so it wasn’t an Arkham alert sent to traders or bots. Stated.
“There may still be other news lurking,” Cochrane said.
it wouldn’t be the first time
The US government reportedly sold more than 9,800 Silk Road-related bitcoins for around $215 million in early March. block works.
Officials also said they plan to sell another 41,500 bitcoins in four installments this year, according to the news site.
rumors spread again Late April Regarding the possible involvement of the US government in bitcoin wallets.
According to an earlier cryptonews.com report, a report from blockchain analytics firm Arkham said a significant amount of bitcoin was transferred from wallets associated with the now-defunct cryptocurrency exchange Mt. Gox and the U.S. government. claimed.
Arkham CEO Miguel Morrell said the wallet activity was irrelevant, suggesting that the U.S. had no real responsibility for the move or sale of Mt Gox-related assets.
Bitcoin’s price plummeted from nearly $28,000 to just under $27,000 around 1:30 p.m. ET on Wednesday.
As of Wednesday afternoon, Bitcoin’s price had recovered to near $27,700.