The Reason for the USA's $2 Billion Bitcoin Transfer Began to Become Clear!
James Seyffart, senior ETF analyst at Bloomberg, stated that the US Bitcoin transfer from the Silk Road DOJ Confiscated Funds wallet could be a strategic move. The transfer of Bitcoins previously seized by the US Department of Justice after an interval of approximately four months caused various speculations among industry experts. Seyffart claimed that this transfer was not for sale, but a reorganization for the safe storage of Bitcoins.
Silk Road DOJ Confiscated Funds refers to the Bitcoins seized by the US Department of Justice during operations against the Silk Road market. It is thought that these assets will be better managed with professional services such as Coinbase Prime. On July 2, Coinbase was sued by the U.S. Department of Justice's asset forfeiture agency. It announced that it had received authorization to store Class I digital assets and provide trading services for the Marshals Service. Class I assets represent large digital assets that are centrally managed to support federal law enforcement activities.
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