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What's going on, guys? It is Tuesday, July 30th, and today we are talking about the U.S. government

moving coin. Before we get into that, however, if you are enjoying the breakdown, please go

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Hello, friends. Today is something of a part two, a very unfortunate part two to yesterday's episode. So let's talk about what's going on and the copious interpretations out there on

Bitcoin Twitter. U.S. government Bitcoin is on the move again, sending a shockwave through the markets.

28,000 Bitcoin valued at around $2 billion were transferred to an unidentified wallet on Monday.

The coins were seized from the Silk Road in 2020, but a forfeiture order was only granted

late last year. This means the Bitcoin are eligible to be sold, but the story doesn't seem to be

that straightforward. After the first transfer was complete, the Bitcoin are eligible to be sold, but the story doesn't seem to be that straightforward.

After the first transfer was complete, the Bitcoin was split into two addresses with each

holding exactly 10,000 BTC.

Argym Intelligence said,

We believe this represents a 10,000 Bitcoin deposit to an institutional custody service.

Note, spreading deposits across multiple wallets for a single customer is a typical

risk management process for custodians. For example, the Coinbase custody setup for the BlackRock

ETF has their Bitcoin holding spread across hundreds of wallets, each containing 600 Bitcoin.

In July, the U.S. Marshall signed a deal with Coinbase to provide custody services for

the government Bitcoin. Moving the Bitcoin into a fresh wallet controlled by

...