Quick Take
On Apr. 2, CryptoSlate reported that the US government sold 1,999 Bitcoin (BTC), valued at approximately $130 million, from a wallet associated with Silk Road to the digital assets exchange Coinbase. As per Arkham Intelligence firm, only 1,999.999 BTC were spent in the transaction, leaving the remaining 29,799.99012413 BTC unspent.

This development bears similarities to when the UK government sold over half of its gold reserves in 1999 at approximately $270 per ounce. This move coincided with a cyclical bottom before gold embarked on a multi-year bull run.
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