US Government Transfers $183M in Bitcoin to Coinbase Prime

The U.S. government transferred nearly $183 million worth of Bitcoin to Coinbase Prime on July 13, prompting market attention and speculation about a possible sale.

The transfer consisted of 2,874.9 BTC, which was carried out through bitcoin blocks 957893 and 957894 from an address controlled by the government.

On-chain data shared by Galaxy Research showed that this is part of a larger move, with close to 4,000 BTC being transferred to Coinbase Prime on the same day.

The move has raised questions about whether it's preparation for an actual sale or simply a step in internal custody operations. The U.S. government has said it will hold seized Bitcoin without selling it, but this latest transfer is adding uncertainty to market sentiment.