Post
Topic
Board Bitcoin Discussion
Re: Bitcoin moved by the US government
by
dzungmobile
on 15/08/2024, 08:58:37 UTC


US government just moved 10,000 bitcoins to an exchange, coinbase prime. While this might be worrying for others especially after the German government moving their own bitcoins, I advise everyone to remain calm. The 10,000 bitcoins taken in custody from the Silk road case were transferred to an exchange but not with the intention of selling them.
I agree with you that no reason to be panic now but disagree with you that moving bitcoin to an account on Coinbase Prime does not have any risk of selling now or in future. This movement can serve as moving to a third party custodial wallet but in future, it might be sold by the owner of these bitcoins, the US. government.

It's more realistic to assume that these bitcoins will be sold, just a matter of time, when it will be sold only. Assume it will be sold, you will see no reason to panic as in Bitcoin market, there are buyers and sellers and many bitcoins changed hands on daily basis.