According to data provided by Arkham Intelligence, the U.S. government has moved $8 million worth of Bitcoin.
The vast majority of the aforementioned sum has been sent to a change wallet.
The price of the leading cryptocurrency is currently sitting at $87,326, according to CoinGecko data.
The U.S. government has also moved $1.77 million worth of Ethereum (ETH) to a new address.
Earlier this month, an address associated with the U.S. government moved some Avalanche (AVAX) tokens.
According to court documents, the last major Bitcoin sale conducted by the U.S. government took place in March 2023. Back then, it sold a total of $215.5 million worth of the coins that were seized from Silk Road hacker James Zhong.
However, Arkham recently used on-chain data to estimate that the U.S. government had likely sold an additional $2.24 billion worth of Bitcoin related to Zhong over the period from June 2023 to December 2024.
Earlier this year, the U.S. government established a strategic Bitcoin reserve that is supposed to hold forfeited cryptocurrencies. On top of that, it has also established a separate stockpile for unspecified altcoins.
As reported by U.Today, Bloomberg has estimated that there is a 30% chance of the U.S. government buying Bitcoin in 2025.
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