According to online data, the wallet address labeled as “U.S. Government: Silk Road DOJ Confiscated Funds (starting with bc1qf)” recently sent 0.001 BTC to Coinbase Prime.
The address has not made any transactions since receiving 30,000 bitcoins a year ago. Today’s action of sending 0.001 BTC to Coinbase Prime is believed to be a test transaction, possibly in preparation for future large transfers and sales. The address currently holds a total of 30,175 bitcoins, worth nearly $2 billion.
The last time the U.S. government sold bitcoins was in March 2023. In late 2022, the government seized approximately 50,000 bitcoins related to the Silk Road website and sold 9,861 bitcoins at a price of $216 million.
