This happened while the global flagship cryptocurrency staged a 4.89% recovery over the last 24 hours, pushing away from the $53,900 zone it hit on Friday.
On Friday, digital gold began to reverse, at least for now, and printed a nearly 5% increase, rising from $53,900 to the $56,550 level, where it is changing hands at the time of this writing.
The price increase happened as the U.S. released the June non-farm payrolls report, which came out with figures better than expected by analysts initially — 206,000 versus 190,000 expected.
The U.S., the German governments and the defunct Mt Gox crypto exchange began transferring Bitcoin on June 19. Cumulatively, they have moved $1.08 billion in Bitcoin, which is 17,778 BTC. Since July 1, the German government has been selling Bitcoin every day, according to the Lookonchain smart wallet tracker. Now, these entities together hold a whopping 396,210 BTC evaluated roughly at $22.78 billion. The U.S. government holds 213,297 BTC (evaluated at $11.72 billion), Germany still owns 41,226 BTC (worth $2.28 billion), while Mt Gox so far holds 141,687 BTC, which equals $7.78 billion.
Mt Gox has started repaying Bitcoin and Bitcoin Cash to the investors who suffered from its hack in 2014.
The Bitcoin held by the governments was mainly confiscated from illegal operations and money laundering. The U.S. government also still holds Bitcoin seized during the shutdown of the Darknet marketplace Silk Road founded and ran by Ross Ulbricht more than 10 years ago until it was shut down in 2013.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
