---
title: "US government moves $2 billion in Bitcoin, price dips 1.3%"
url: https://diffcoin.com/us-government-moves-2-billion-in-bitcoin-price-dips-1-3/
description: "US government moves $2 billion in Bitcoin from seized Silk Road funds, causing a 1.3% price drop. Reason for transfer remains unclear."
published: 2024-07-29
updated: 2024-07-29
author: "Mila"
site: "Diffcoin"
---

# US government moves $2 billion in Bitcoin, price dips 1.3%

### Key Takeaways

- US government moved 29,800 BTC worth $2 billion from seized Silk Road funds.
- Bitcoin price dropped 1.3% following the transfer, trading at $66,890.12.

Share this article

![Follow Crypto Briefing on Google News](https://static.cryptobriefing.com/wp-content/uploads/2024/04/05153217/follow-us-on-google-news.png)

The US government’s Bitcoin (BTC) wallet containing Silk Road’s seized funds moved roughly 29,800 BTC to different addresses today, on-chain data shows. The amount is equivalent to over $2 billion, and the news made the BTC price crash 1.2% in a few minutes, currently sitting at $66,890.12.

US government transaction. Image: Arkham Intelligence

Notably, the address that received the Bitcoin transaction is unknown up to the time of writing. According to on-chain data platform Arkham Intelligence, the US government’s Bitcoin address holds over $12 billion, which is nearly 183,440 BTC.

The crypto market was just recovering from a “government dump,” after the German authorities sold 49,858 BTC for $2.89 billion over 23 days, sending the Bitcoin price as low as $54,000.

Moreover, there’s still no reason behind the movement made by the US government wallet, leaving investors wondering if this was a movement to sell 29,800 BTC or just a reallocation of funds.

![Sapphire](https://static.cryptobriefing.com/wp-content/uploads/2024/03/18060845/600x500.jpg)

*This is a story in development. We will update this article as soon as more information is revealed.*

Share this article

![Follow Crypto Briefing on Google News](https://static.cryptobriefing.com/wp-content/uploads/2024/04/05153217/follow-us-on-google-news.png)

[Source link](https://cryptobriefing.com/us-bitcoin-transfer-impact/)