U.S. government moves $500 million; 320,000 coins remain
On-chain data shows that wallets labeled as belonging to the U.S. government transferred about $470 million worth of BTC, WBTC, and USDT on Wednesday to deposit addresses believed to belong to an institutional custody platform. On Tuesday, it had already transferred 833.6 BTC (about $71.6 million)—its first Bitcoin move since late August. That same day, 40,285 BNB (about $31.6 million) were also moved to a new address.
It sounds alarming, but the numbers put things in perspective. After the transfers, government addresses still hold about 324,000 BTC, and less than 1% was moved this time. Transferring coins to a custody platform doesn’t necessarily mean they’re being sold. The 2025 executive order states that Bitcoin added to the strategic reserve won’t be sold; other assets, such as stablecoins, could be considered for sale.
Bitcoin is around $82,900 today, with an intraday low of $82,227. The market was already worried about a sell-off, so news of transfers like this is especially easy to overblow.
I’ll keep holding my spot position. I’m not selling at a loss over a transfer headline; I’ll wait for an official statement before reassessing.
#BNB $BTC $BNB
On-chain data shows that wallets labeled as belonging to the U.S. government transferred about $470 million worth of BTC, WBTC, and USDT on Wednesday to deposit addresses believed to belong to an institutional custody platform. On Tuesday, it had already transferred 833.6 BTC (about $71.6 million)—its first Bitcoin move since late August. That same day, 40,285 BNB (about $31.6 million) were also moved to a new address.
It sounds alarming, but the numbers put things in perspective. After the transfers, government addresses still hold about 324,000 BTC, and less than 1% was moved this time. Transferring coins to a custody platform doesn’t necessarily mean they’re being sold. The 2025 executive order states that Bitcoin added to the strategic reserve won’t be sold; other assets, such as stablecoins, could be considered for sale.
Bitcoin is around $82,900 today, with an intraday low of $82,227. The market was already worried about a sell-off, so news of transfers like this is especially easy to overblow.
I’ll keep holding my spot position. I’m not selling at a loss over a transfer headline; I’ll wait for an official statement before reassessing.
#BNB $BTC $BNB