Donald Trump

Bitcoin

Silk Road

when

Billion

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 <li><strong>The U.S. Government’s transfer of $2 billion in Bitcoin from the Silk Road stash has caused significant market concerns, potentially leading to price fluctuations.</strong></li>
 <li><strong>Bitcoin’s role in the upcoming election is growing, with most candidates, except Kamala Harris, showing support for the cryptocurrency, influencing its market dynamics.</strong></li>
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      <p>From CNF’s earlier <a href="https://www.crypto-news-flash.com/btc-slips-on-news-of-u-s-moving-3-940-seized-silk-road-bitcoin-to-coinbase-is-a-massive-sell-off-on-the-horizon/" rel="noopener noreferrer nofollow">report</a>, when BTC slipped on news of the U.S. moving 3,940 seized Silk Road Bitcoin to Coinbase, we considered this a massive sell-off on the horizon. In a turn of events, the U.S. Government recently moved over $2 billion worth of <a href="https://www.crypto-news-flash.com/is-a-btc-dump-on-the-horizon-u-s-govt-moves-1b-worth-bitcoin-seized-from-silk-road-to-coinbase/" rel="noopener noreferrer nofollow">Bitcoin</a> from its Silk Road confiscation, causing a stir in the market.</p>
      <p>One notable community member, Collin Brown, shared his perspective. Collin Brown reported that the U.S. Government has moved 29,800 BTC from its Silk Road wallet, transferring over $2 billion worth of Bitcoin and impacting the market, despite Trump’s earlier commitment to hold the BTC.</p>
      <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
       <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Breaking: US Government Moves 29,800 BTC From Silk Road Wallet! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>
       <p>Despite Trump’s pledge to HODL, the DOJ has transferred over $2 billion worth of Bitcoin, rattling the market. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>
       <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Key Points:</p>
       <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/25b6.png" alt="▶" class="wp-smiley" style="height: 1em; max-height: 1em;"> 29,800 BTC in two transactions<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/25b6.png" alt="▶" class="wp-smiley" style="height: 1em; max-height: 1em;"> Transfer comes amid BTC recovery<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/25b6.png" alt="▶" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/EbZDOSEgEK" rel="noopener noreferrer nofollow">pic.twitter.com/EbZDOSEgEK</a></p>
       <p>— Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1817998173220078003?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a></p>
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      <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
      <p>Furthermore, according to Arkham Intelligence, this large transfer involved around 29,800 BTC moved in two parts from the wallet labeled “U.S. Government: Silk Road DOJ Confiscated Funds (bc1qj).” The first part transferred 27,799 BTC, while the second was a small transfer of 0.001 BTC. The reasons behind these transfers remain unclear, and this isn’t the first movement this month.</p>
      <p>Earlier in July, the government transferred 237 BTC, worth about $14 million, from a crypto fraud case, preceded by a smaller test transfer of 11.84 BTC.</p>
      <p>Last week, another transfer of 60 BTC, valued at nearly $4 million, went to Coinbase Prime. These movements have worried the crypto community due to potential impacts on Bitcoin’s price. This latest action by the DOJ follows the Bitcoin Conference 2024, where Donald Trump announced plans to hold the BTC owned by the U.S. Government.</p>
      <h2 id="will-it-be-65-000-or-70-000-btc-price-next">Will it be $65,000 or $70,000 BTC Price Next?</h2>
      <p>As Bitcoin becomes a key topic in the upcoming election, most candidates, except Kamala Harris, have reiterated their support for the cryptocurrency. Market observers are concerned about the continuous sell-offs by the government, fearing they might negatively affect Bitcoin’s price, similar to the recent declines caused by the German Government’s sell-offs.</p>
      <p>Reiterating CNF’s previous <a href="https://www.crypto-news-flash.com/us-govt-is-planning-to-sell-1-18-billion-worth-bitcoin-btc-connected-to-silk-road-what-will-this-do-to-the-market/" rel="noopener noreferrer nofollow">discussion</a> on the U.S. Government planning to sell $1.18 billion worth of Bitcoin (BTC) connected to Silk Road, the effect on the market was being discussed. As of now, according to Coin Market Cap data, BTC is traded at <strong>$66,750.73</strong> with a decrease of<span style="color: #ff0000;"><strong> 2.92%</strong></span> in the past day and <span style="color: #ff0000;"><strong>0.89%</strong></span> in the past week. See BTC Price below.</p>
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US Government Transfers $2 Billion in Bitcoin from Silk Road Stash – $65,000 or $70,000 BTC Price Next?

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