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.
The government has made partnership with Coinbase and has entrusted them to hold seized bitcoins. So if anyone is saying that this is a sign of a market crash or a reason for it then don’t believe them and remain steadfast in your hodling.
It’s nice to know that the US government has decided to solely rely upon a publicly traded corporation to do the handling of the seized assets for safe keeping. Coin base has surely turned into a government tool to help influence regulation but has sewn coin base into their crypto strategy. I am surprised that the treasury hasn’t been the sole holder of these seized assets.