News!

The US government has transferred over 30,170 Bitcoin (approximately $2 billion) from the Silk Road hack fund to the Coinbase exchange and a new wallet address with a total fee of only...$16

The Silk Road BTC address (linked to the US government) moved 2,000 Bitcoin ($131M) to Coinbase Prime and 29,800 Bitcoin ($1.95B) to a new address 8 hour ago.

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This is likely an OTC deal and does not directly affect the BTC spot price. They still hold 179.19K BTC ($11.7B) in the old wallets.

Details: https://platform.spotonchain.ai/en/entity/188?route=view_transaction&chain_id=2110000000&txn_hash=b614dd2e0fa06d776ee4d45973fab5ceb6e2dfebfb84e5f7bd45ef0975455240

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Now the crazy part about this story is that they transferred 30,170 Bitcoin (approximately $2 billion) with no regulations or paperwork like the bank does.

Imagine if you wanted to transfer that amount of money by using the bank ????, they would have freaked out and asked you everything about this transaction. They would need to ask their bosses to come and see you directly, and you would have to sign A LOT of papers to get through with YOUR MONEY. Not to mention about how much the fee is and how long you could have waited for this amount of money to actually be "processed" and "completed".

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If I were to risk losing my money between the bank and cryptocurrency, I would choose cryptocurrency because I can have control over it. I wouldn't have to wait for the bank to retrieve it for me or follow their instructions on what to do next, especially since they can be unreliable.

What side are you on?

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