The government could also be looking to custody or trade the Bitcoin, based on a recent partnership with Coinbase Prime.
The United States government has transferred nearly $600 million worth of Bitcoin to Coinbase, but it is unlikely to transform into selling pressure.
The US government transferred 10,000 Bitcoin (BTC) worth over $593 million on Aug. 15, as reported by Cointelegraph.
The Bitcoin was sent to a Coinbase Prime deposit wallet, according to onchain analytics firm Arkham Intelligence.
