'Only 99,990 BTC of 29,800 Moved by U.S. Govt.,' Analyst Julio Moreno Reveals

IconCryptoNewsTerminal Staff02 Aug, 2024

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'Only 99,990 BTC of 29,800 Moved by U.S. Govt.,' Analyst Julio Moreno Reveals

Julio Moreno, lead analyst at CryptoQuant, has revealed via Twitter that out of the 29,800 BTC moved by the U.S. government (from the Silk Road seizure) to an intermediary address, only 9,990 BTC was forwarded to an external address, which means the government likely still holds at least 200,000 BTC. Given the history of the U.S. government selling their Bitcoin in tranches, we must assume they still hold the rest at a new address.