Bitcoin Transfer to Coinbase Signals Potential Sale
Scott Johnsson, a general partner and general counsel at Van Buren Capital, suggests that the U.S. government transferring Bitcoin linked to Silk Road to a Coinbase address indicates that the funds are likely to be sold soon. The U.S. Marshal Service, responsible for disposing of seized digital assets from criminal activities, is believed to be in the process of selling Bitcoin seized from the Silk Road marketplace.
Founders Fund Co-founder Shares Insights on Silk Road Bitcoin
Johnsson responded to Joey Krug’s data shared from Bitcoin explorer Tokenview, revealing over 19,000 BTC moved into a Coinbase account. He agreed with Krug’s viewpoint that these coins constitute the remaining Silk Road stash awaiting sale.
U.S. Government’s Action on Silk Road Bitcoin
Following the transfer of approximately $594 million worth of Bitcoin seized from Silk Road to a Coinbase Prime address, Johnsson pointed out that the USMS has been adhering to a servicing agreement with Coinbase made in June. The agency is preparing to sell the BTC assets as per the requirements of the agreement.
