US Silk Road Bitcoins And Coinbase Agreement
Confirming that the US Marshal Service is selling the Silk Road Bitcoins, Attorney Scott Johnsson stated that the USMS entered into a terms of service agreement with Coinbase earlier this year in June. This agreement shows that the USMS assets remain segregated and thus any transfers to Coinbase Prime and other exchanges definitely signal that the sale has already happened or is imminent, said Johnsson.
BTC As A Reserve Asset
Former President Donald Trump has said that he would consider making Bitcoin a reserve asset for the US if re-elected to power in the 2024 US Presidential Elections. Many crypto industry veterans have also backed this idea while calling out that the US government’s Bitcoin transfers are not in tune with Kamala Harris’s crypto reset promises.
US Government’s Bitcoin Transfers
Over the last month, the US government has moved a total of 40,000 Bitcoins seized from the Silk Road route. Interestingly, these transfers began soon after the German government liquidated all of their BTC through a rampant BTC selling spree last month in July. As per the Arkham Intelligence data, the US government still holds 203,239 BTC value at $12.420 billion as of the current BTC price.
Crypto Industry Reaction
Crypto industry players called the recent town hall meeting a clown show. Many called it a missed opportunity for Kamala Harris to showcase her support for the crypto industry. Other crypto industry leaders said that they don’t trust Harris and would continue to support Donald Trump.
Senate Majority Leader’s Statement
Senate Majority Leader Chuck Schumer said that crypto is a bipartisan issue and that the US cannot wait on the sidelines for crypto regulations, and lose the opportunity to other countries. He also assured of having firm crypto regulations in the US by the year-end.
Conclusion
In conclusion, the US government’s recent Bitcoin transfers have sparked a lot of interest in the crypto community. The sale of Silk Road Bitcoins has been confirmed by Attorney Scott Johnsson, and many are calling for Bitcoin to be considered as a reserve asset for the US. The crypto industry is also reacting to the recent town hall meeting, with some calling it a missed opportunity for Kamala Harris to showcase her support for the industry.
FAQs
Q: What is the purpose of the US government’s Bitcoin transfers?
A: The purpose of the US government’s Bitcoin transfers is to sell the Silk Road Bitcoins that were seized from the Silk Road route.
Q: How many Bitcoins has the US government transferred?
A: The US government has transferred a total of 40,000 Bitcoins seized from the Silk Road route over the last month.
Q: Why is the crypto industry reacting to the recent town hall meeting?
A: The crypto industry is reacting to the recent town hall meeting because it was seen as a missed opportunity for Kamala Harris to showcase her support for the industry. Many crypto industry leaders also don’t trust Harris and would continue to support Donald Trump.
Q: What is the current value of the US government’s Bitcoin holdings?
A: According to Arkham Intelligence data, the US government still holds 203,239 BTC value at $12.420 billion as of the current BTC price.
