Reactions and speculations around the US government move

The crypto community is abuzz, speculating about the motivations behind this massive transfer. David Bailey, CEO of Bitcoin Magazine, suggested that this move could be politically motivated to counter the policies of former President Donald Trump.

According to Bailey, this action could be seen as an attempt to hinder Trump’s pro-crypto policies, especially his promise not to sell the government’s bitcoin holdings. Other crypto figures, like Mike Novogratz, criticized the timing of the transfer, calling it “ill-advised”.

They believe this action could be linked to an agreement with Coinbase for the custody of government assets. This speculation is reinforced by the fact that the government had previously transferred nearly 2,000 BTC to a Coinbase Prime hot wallet in April.

The implications of these actions are vast. Economically, such massive transactions can influence investor confidence and affect market prices. Politically, they raise questions about the use of digital assets as economic and political instruments, reflecting broader ideological battles within the American political sector.