Edward Snowden Predicts Government Bitcoin Buys, US Transfers 15,085 Bitcoin Following Price Surge
Bitcoin wallets linked to the United States government have seen $922 million worth of assets moved since the asset’s price hit $60,000, while Edward Snowden came out with an interesting prediction regarding government involvement with Bitcoin.
The transactions included 15,085 BTC and were carried out after the price surge as bulls kept up buying momentum.
On-chain data from Arkham Intelligence shows accounts linked to the government made four transactions on Feb 28. The first was a transfer of 1 BTC worth $60,000 before a second transfer of 2,817 BTC, worth approximately $172 million at the time.
Subsequently, they made the final two transactions, 0.01 BTC and 12.267 BTC, worth $748 million. The transfers drew interest from the wider cryptocurrency community as the wallets involved in these movements are linked to Bitcoin seized following the Bitfinex hack in 2016.
Approximately 119,755 BTC worth over $72 million was stolen from Bitfinex in 2016. This amount is now valued at over $7 billion, as the Bitcoin price skyrocketed in the past several weeks.
Bitcoin moved past $60,000 on Feb 28, posting over 40% gains in the last month. The valuation spike is linked to institutional inflows on the back of a spot Bitcoin ETF approval by the United States Securities and Exchange Commission (SEC).
Amid speculations on social media spaces as to the reason behind the sudden transfer, some analysts point out that it was for law enforcement purposes.
Meanwhile, technology specialist Edward Snowden predicted that information revealing a national government has been buying Bitcoin will come out. Snowden also called the asset “the modern replacement for monetary gold.’
Prediction: A national government will be revealed this year to have been
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