Author: Elena R
Elena R 
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
Jun 27, 2024 17:45
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
The US government has reportedly moved 3,940 Bitcoins to an exchange on June 26 leading to a sell-off speculation. The Bitcoins were seized from drug trafficker Banmeet Singh worth around $240 million. The tokens were moved from the US government’s wallet which approximately holds $13.4 billion worth of crypto, to Coinbase Prime. The US government is one of the largest Bitcoin whales in the world as the amount it holds equates to roughly 1% of Bitcoin’s total supply. Most of the US government’s crypto holdings, mainly accumulated through confiscation of criminal funds, consist of Bitcoin.