$2B Silk Road Bitcoin Transfer by U.S. Government Triggers Market Drop Amid Trump’s BTC Reserve Promise

On Monday, the U.S. government moved $2 billion worth of seized bitcoin (BTC), causing a significant drop in already declining prices and raising concerns among investors. This transfer occurred just days after former President Donald Trump vowed to build a substantial BTC reserve if he wins the presidency.

According to blockchain analysis by Arkham Intelligence, a wallet identified as "U.S. Government: Silk Road DOJ" moved 29,800 BTC, previously linked to the Silk Road website, to a new address with no transaction history. Subsequently, this address split the funds, sending 19,800 BTC and 10,000 BTC to separate addresses.

Analysts at Arkham speculated that the 10,000 BTC transaction, valued at approximately $670 million, might be a deposit to an institutional custody service.