US government moves another $1 billion in Bitcoin as BTC slides $4,000
US government-linked wallets transferred 12,267 BTC, worth about $1 billion, on Oct. 8; blockchain analysts tracked 9,000 BTC to Coinbase Prime. The moves followed transfers of roughly 9,261 BTC over the prior two days and coincided with Bitcoin falling from about $86,500 to $82,500. Deposits to Coinbase Prime do not establish that the coins were sold or caused the decline. Galaxy Research estimates US-attributed wallets hold about 319,086 BTC, including assets from the Bitfinex hack and other seizures. Some holdings face competing ownership claims and forfeiture proceedings, which could affect whether they qualify for the Strategic Bitcoin Reserve or must be returned. The destination of the remaining transferred BTC and the treatment of deposited assets remain unclear.
