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BTC U.S. government-linked wallets transfer more than 12,000 bitcoins again
On Thursday, wallet addresses linked to the U.S. government transferred another 12,267 bitcoins (BTC) worth approximately US$1.01 billion, according to online data tracking agency Lookonchain.
EmberCN, another online tracking agency, pointed out that all 12,267 bitcoins have been transferred to the Coinbase Prime platform. The move brought the total number of bitcoins transferred by the U.S. government to the platform in the past two days to approximately 18,483, with a total value of approximately US$1.53 billion.
Galaxy Research: Part of the funds originated from previously unknown seized assets
Galaxy Research analysis pointed out that in previous transfers, 2,456 bitcoins came from previously untraced holding addresses. It is currently speculated that these assets are seized by the U.S. government.
Galaxy Research combed through previous transfer records in a report released on Wednesday: the U.S. government sent approximately 8,428 bitcoins to Coinbase Prime that day, and 834 bitcoins on Tuesday, totaling 9,261 bitcoins, worth approximately US$770 million. Nearly half of the funds came from recoveries of Bitfinex hackers, and the other came from known assets seized by Binance. But an additional 2,456 bitcoins came from previously unknown holdings, and since they were deposited at the U.S. government deposit address at Coinbase Prime, we now treat them as assets seized by the U.S. government.
Background of Strategic Bitcoin Reserve Policy
As of Wednesday (before the transfer on Thursday), Galaxy Research estimated that the balance of bitcoins held by the U.S. government was 319,086, down from a peak of 352,587 on August 13, 2024. About 71% of those assets are in two categories that are not settled as government property, namely "LuBian coins" and funds recovered by Bitfinex.
It is worth noting that an executive order signed in March 2025 clearly stipulates that bitcoins deposited in the "strategic bitcoin reserve" cannot be sold. Although the federal court approved the physical return of the seized Bitfinex-related coins to Bitfinex in January 2025, and the address that mainly holds 94,643 bitcoins has not yet been moved, the transfer to Coinbase Prime itself is not directly equivalent to a sale. Coinbase Prime provides both institutional custody and trading services.
As of press time, the price of Bitcoin was approximately US$81,150, down approximately 2.6% in 24 hours.
