Summary
- The US Government moved $2 billion in Bitcoin.
- The move comes following Trump’s speech at The Bitcoin Conference.
The US Government transferred $2 billion worth of Bitcoin just two days after former President Donald Trump promised that the US would never sell any of its BTC reserves if he were re-elected.
Arkham Intelligence blockchain analysis platform noted that the US Government wallet which stored BTC seized from the dark web marketplace Silk Road back in 2022, has transferred 29,800 BTC to an unknown wallet address on July 29.
Since then, the funds have reportedly moved to another unknown wallet.
The Transfer Comes Following Trump’s Speech
This transfer comes two days after the former President made a series of pro-Bitcoin and crypto promises during his speech at The Bitcoin Conference.
During his keynote speech at the Conference, Trump said that he would make sure that the US does not sell any currently held Bitcoin and said that the country would become the crypto capital of the world, by rolling out more crypto-friendly policies.
He said that he would also fire the current Chair of the US SEC, Gary Gensler, on day one if he were re-elected as the US President in November.
According to the latest reports, Binance’s head of VIP and institutional, Catherine Chen, said that the recent spotlight on Bitcoin and crypto coming from Trump during the past weekend was a positive sign for the entire crypto industry.
Chen said that what is clearly meaningful is the fact that politicians and important industry leaders are explicitly stating their positions, recognizing the value of Bitcoin in the monetary system, while making sure that crypto is an essential part of their agenda.
According to her, this means more regulatory clarity in the future, as governments will need to make their stance on crypto clearer.
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading close to $67,000. BTC kicked off the week with prices close to $70,000 following the weekend.