Speculation about transfer
The translation has raised some speculation about whether the coins could be prepared for liquidation or internal custody operations.
In March 2025, an executive order was signed to establish the Strategic Bitcoin Reserve, directing the Treasury Department.
Treasury Secretary Scott Bessent previously said that the government would not purchase Bitcoin directly for the Strategic Bitcoin Reserve but would retain confiscated $BTC instead of selling it.
The latest Coinbase Prime transfer has therefore raised questions among investors about whether the US government is preparing for potential sales.
imagine US gov is selling
— RunnerMU (Micron-san) (@RunnerXBT) July 13, 2026
Notably, the coins trace to multiple unrelated cases ($BTC-e and others). It is highly unusual for the government to move them at the same time.