Samson Mow, proponent of $1 million BTC theory, ends speculation on 10,000 BTC US government sell
Many crypto experts and on-chain investors became excited today, when it was revealed that U.S. authorities transferred 10,000 BTC, equivalent to jaw-dropping $593 million, to the Coinbase Prime platform. Against this backdrop, the first cryptocurrency's exchange rate dropped to $58,000 at one point, and even lower. Thanks to on-chain history, it turned out that these were crypto assets from the case of the infamous darknet marketplace, called Silk Road.
No, the USG didn’t just sell 10,000 coins. It *moved* coins to Coinbase for custody.Institutional announced that the U.S. Marshals Service selected Coinbase Prime to provide custody and advanced trading services for its large-cap digital assets portfolio. However, so far, little is known about what exactly happens to tokens once they hit a centralized platform.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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