Silk Road–Linked Bitcoin Worth $300M Moved by U.S. Government: On-Chain Data

The U.S. government previously sold 9,861 bitcoin for $216 million in March.

AccessTimeIconJul 12, 2023 at 2:28 p.m. UTC
Updated Jul 13, 2023 at 9:46 p.m. UTC

Two wallets tagged as belonging to the U.S. government and linked to the Silk Road seizure of crypto have moved over $300 million worth of bitcoin (BTC) in three separate transactions on Wednesday morning, on-chain data shows.

The price of bitcoin fell by 0.8% to $30,480 after the transaction was sent; it has since recovered to $30,660 as of press time.

Bitcoin's block explorer shows that the government-controlled wallets sent a total of 9,825 bitcoin ($301 million).

The same wallet transferred over $1 billion in bitcoin in March, a move that caused a slump across all major cryptocurrencies.

The U.S. government previously sold 9,861 bitcoin for $216 million in March. The sale came after the government seized 50,000 bitcoin linked to the Silk Road marketplace in November.

Edited by Nelson Wang.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.