U.S. Government Transfers $75 Million in Bitcoin
The U.S. government moved 667.6 Bitcoin (BTC), worth about $75 million, to a new wallet. The transaction occurred on October 14 at 9:11 UTC. The new address has no prior activity. Before sending the full amount, a test transfer of 0.001 BTC was made. Despite this transfer, the government still holds roughly 197,000 BTC, valued at over $22 billion.
Data from Arkham Intelligence confirms these details. The Bitcoin comes from assets seized in criminal cases, including the Silk Road investigation. In December, the government moved 19,800 BTC, worth $1.9 billion then, to a Coinbase Prime wallet. Treasury Secretary Scott Bessent estimates the total seized crypto assets at $15 billion to $20 billion.
Strategic Bitcoin Reserve Initiative
This transfer follows President Donald Trump’s March executive order to create a strategic Bitcoin reserve. The plan treats seized crypto assets as part of the U.S. economic reserves, similar to gold or foreign currency holdings. This move aims to integrate digital assets into national financial strategy.
Global Interest in National Crypto Reserves
Other countries are exploring similar initiatives. El Salvador, Bhutan, Sweden, and the Czech Republic have discussed or established national crypto reserves. In the U.K., police seized 61,000 BTC in 2018, now worth nearly $7 billion.
The recent transfer also comes amid market volatility. A flash crash on October 10 wiped out nearly $19 billion in leveraged positions, affecting over 1.6 million traders. The crash followed President Trump’s remarks on new tariffs on Chinese imports, triggering panic selling in tech stocks and crypto.
Bitcoin currently trades around $110,636, down nearly 4% in 24 hours, with over $72 billion in trading volume, according to CoinMarketCap. The U.S. government’s Bitcoin moves are closely watched as potential signals of future policy changes. How governments manage digital assets could impact market prices and investor confidence.
