Historic $2 Billion Bitcoin Moved by US Government to Coinbase

The US government moved 30,175 BTC, worth almost $2 billion at the time, to a Coinbase-linked wallet on April 2. This transfer takes place during a substantial decrease in the price of Bitcoin, with $64,500 as the weekly low. The cost of the cryptocurrency was, however, supported above $65,000 a little afterward. This transfer was brought to the attention of the crypto community by on-chain detective ZachXBT, who was one of the first to highlight this transfer on social media and consider it a big event in the crypto world.