On December 2, the U.S. government transferred $1.92 billion in Bitcoin to two wallets, with $963 million sent to the cryptocurrency exchange Coinbase, sparking speculation about a planned sale. This is evidenced by data from the analytics platform Arkham.
These Bitcoins were obtained from Silk Road seizures, which the U.S. government may legally sell, raising concerns about mass dumping. The crypto community is worried that President Biden is attempting to liquidate the American supply before Trump’s inauguration, hindering his plans to establish a Bitcoin reserve.
It is believed that President Joe Biden is using his "lame duck" period to deliberately obstruct the newly elected President Donald Trump. During his campaign, Trump vowed to create a U.S. Bitcoin reserve, starting with significant federal government assets.