The government’s transfer occurred the same day Bitcoin breached the $60,000 mark for the first time in over 2 years.
The United States government has transferred a total of $922 million worth of Bitcoin from two cryptocurrency wallets that held funds seized from Bitfinex in 2016.
The U.S. government’s transfers occurred the same day as Bitcoin breached $60,000 for the first time in over two years on Feb. 28. Bitcoin rose 5.52% in the 24 hours leading up to 9:45 pm UTC, to trade at $62,507. The world’s first cryptocurrency is up over 20% for the past week.
The first test transfer, worth only 1 Bitcoin ($60,200 during the transfer) occurred 3:39 pm UTC on Feb. 28. Shortly after, the U.S. government-labeled wallet sent a second transaction worth 2,817 Bitcoin ($172.74 million), a third transaction worth 0.01 Bitcoin ($613.35), and a fourth transaction worth 12,267 Bitcoin ($748.46 million), according to Arkham Intelligence data.
