Is the U.S. government influencing the decline in the BTC exch | TRIAD - Trade
Is the U.S. government influencing the decline in the BTC exchange rate?
It is possible that one of the reasons for bitcoin's decline is the sell-offs from government-owned wallets associated with the custody of seized assets.
49,000 BTC ($1.08 billion) seized (https://www.theblock.co/linked/83695/us-seizure-silk-road-bitcoins-report)earlier from the Silk Road hacker were transferred from U.S. law enforcement addresses.
Nearly 10k BTC ($217 million) of that was deposited on Coinbase. The remaining 40,000 BTC were sent to new addresses.
On November 9, 2021, U.S. police officers raided James Zhong's home. Authorities seized more than 50,000 BTC, which were worth approximately $3.36 billion at the time.
