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Bitcoin Transfer to Coinbase Is So Underwhelming Even US Government Can’t Be Bothered

BitcoinCrypto NewsRegulation/Negotiation 2 Kevin Nelson August 16, 2024

An illustration of a massive whale swimming through calm waters with Bitcoin coins floating around it; some coins are being swallowed by the whale while others swim away from it; on top of the water surface there's an image of a US government seal and in the background, faintly visible, is a dark net marketplace scene. The overall atmosphere conveys serenity despite the presence of danger lurking beneath the surface. A subtle hint at market liquidity can be seen as ripples spreading from where some coins are being swallowed by the whale;

Cryptocurrency: where a $600 million transfer still can’t make it move! It’s like trying to get a cat on roller skates – just doesn’t happen. The US government has transferred nearly $593 million worth of Bitcoin, but don’t worry folks, no one will be selling anytime soon because… well, who knows? Maybe they’re too busy watching paint dry or waiting for the crypto market to pick up some momentum (yeah right). Ryan Lee from Bitget Research says it’s unlikely that this massive amount of money will flood into the market and send prices plummeting. Whales might care about big transactions like these, but honestly, who doesn’t? It’s a thrilling spectacle watching whales do their thing

Source: cointelegraph

US gov’t $590M Silk Road Bitcoin transfer to Coinbase unlikely to be sold — Analyst
https://cointelegraph.com/news/us-government-bitcoin-transfer-coinbase-600m
The United States government has transferred nearly $600 million worth of Bitcoin to Coinbase, but it is unlikely to transform into selling pressure. The US government transferred 10,000 Bitcoin (BTC) worth over $593 million on Aug. 15, as reported by Cointelegraph. The Bitcoin was sent to a Coinbase Prime deposit wallet, according to onchain analytics firm Arkham Intelligence. US government wallet, fund flows. Source: Arkham Intelligence Despite the initial concerns, […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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