Wallet Moves Millions in Bitcoin

Blockchain analytics provider Glassnode has discovered wallet connected to the US government law enforcement with estimated balance of 144,500 up BTC until the move.

The balance on the wallet dropped to 125,600 BTC a reduction of 18,860 worth an estimated $418 million which were on the move.

According to mempool tracker as many as 40,000 BTC was moved in the transaction with 25% of it landing in Coinbase cryptocurrency exchange as Glassnode confirmed total of 9861 BTC worth $219 had been sent to the exchange seized from Silk Road hacker.

Whether the Bitcoin hitting the market will impact the price or not as concerns are mounting whether the stash is about to be sold off as Bitcoin has already lost 1.5% since over concerns of the sell off.

One of the responses to the data was “the elites doing everything they can to dump the price of BTC.”