Oddbean new post about login | logout US gov’t $590M Silk Road Bitcoin transfer to Coinbase unlikely to be sold — Analyst. The government could also be looking to custody or trade the Bitcoin, based on a recent partnership with Coinbase Prime. https://yakihonne.s3.ap-east-1.amazonaws.com/89f93336152fbe149c10445b7e780339e16f9ed7ceeb1596414c65c2779b7582/files/1723739616267-YAKIHONNES3.jpeg *US government wallet, fund flows. Source: Arkham Intelligence*
Ryan Lee, chief analyst at Bitget Research, it is unlikely that the transferred Bitcoin will be sold. He noted that the Bitcoin was sent to a Coinbase Prime deposit wallet, which suggests that the government may have entrusted Coinbase with the custody of these assets rather than planning an immediate sale. Lee emphasized that selling such a large amount of Bitcoin could significantly impact market liquidity, making a sale impractical at this time
