The U.S. government is suspected of selling about 20,000 bitcoins, causing BTC to briefly drop below 95,000, while MicroStrategy is waiting for an opportunity to increase its holdings
However, it is worth noting that while Trump promised not to sell a single Bitcoin after taking office, the current government seems to hold a different view.The U.S. government transferred 19,800 bitcoins to Coinbase Prime, suspected of selling coins, causing a subsequent drop in bitcoin prices. As the price fell below $95,000, the publicly traded company MicroStrategy purchased over 15,000 bitcoins again.
On the 2nd, the on-chain data analysis platform Arkham tweeted that the U.S. government had transferred 19,800 bitcoins to the U.S. exchange Coinbase Prime, valued at $1.92 billion based on the price at that time. The U.S. government has seized over 200,000 bitcoins from cases such as "Silk Road," and the crypto community has always been concerned about whether selling these coins would impact the market.
Although depositing to an exchange usually indicates an intention to sell assets, some analysts pointed out that this action may not necessarily be for offloading, as if the U.S. government truly intended to sell bitcoins, there should be corresponding legal documents publicizing the sale plan. According to court documents, the last time the U.S. government confirmed the sale of Silk Road assets was in March 2023, when it sold 9,861 tokens for $216 million. Additionally, the U.S. Marshals Service under the Department of Justice (DOJ) established a partnership with Coinbase Prime in July this year for the protection and trading of digital assets, so this transfer may be for asset custody.
MicroStrategy Takes Advantage of U.S. Government's BTC Transfer to Accumulate Again
However, it is worth noting that while U.S. President-elect Donald Trump promised not to sell a single bitcoin after taking office, the current government seems to hold a different view. In October this year, rumors surfaced that the U.S. government would sell 69,370 bitcoins related to the "Silk Road" case, and this rumor has resurfaced, suggesting that authorities may have plans to sell BTC.
After the U.S. government transferred BTC, the price of bitcoin briefly dropped to $94,388 that day, and MicroStrategy seized the opportunity to accumulate again. Founder Michael Saylor tweeted on the evening of the 2nd: "MicroStrategy has acquired 15,400 BTC at an average price of about $95,976 per bitcoin for approximately $1.5 billion, achieving a 38.7% return on BTC for the quarter to date and a 63.3% return year-to-date. As of December 2, 2024, we have acquired 402,100 bitcoins at an average price of about $58,263, totaling approximately $23.4 billion."
Recently, the price of bitcoin has shown a sideways trend, reporting $96,002.33 before the deadline, up 2.43% over the past seven days.
Dogecoin had previously performed strongly, and investors are paying attention to the frog culture led by Pepe, with the new meme coin Wall Street Pepe gaining significant market attention.
Wall Street Pepe Combines Wall Street Financial Culture with Meme Community
++Wall Street Pepe++ (abbreviated as ++WEPE++) is an innovative token project that combines Wall Street financial culture with meme culture, aiming to provide a fun and practical ecological experience for global cryptocurrency investors. As a decentralized meme token, Wall Street Pepe has quickly become a highly regarded project in the market through a community-driven model, zero tax mechanism, and staking features.
The design inspiration for Wall Street Pepe comes from the humorous expression of Wall Street culture and memes, combining traditional finance with blockchain technology to create a project that offers both entertainment and profitability for investors. The total supply of $WEPE is 1 trillion, with most allocated to liquidity pools to ensure market stability. Additionally, token distribution covers community rewards, development funds, and promotional activities to promote the project's sustainable development.
++Wall Street Pepe++ emphasizes the utility of its token, providing investors with various value-added pathways. First, $WEPE supports staking features, allowing holders to earn high annual percentage yields (APY) through staking tokens. This not only brings additional returns to investors but also enhances the project's long-term appeal.
Secondly, the zero tax mechanism of $WEPE reduces trading costs, with no additional fees for buying and selling. This feature increases the token's liquidity, attracting more investors to join. Meanwhile, the project encourages holders to participate in major decisions through a community governance model, enhancing community engagement and transparency.
Since its launch, Wall Street Pepe has quickly emerged in the market due to the viral effect of meme culture and its innovative economic model. Its private trading community provides investors with advanced trading signals and market analysis, helping them gain an advantage in the competitive crypto market. Technical analysis shows that while the price of $WEPE may experience fluctuations in the short term, its long-term potential is widely regarded as promising.
To expand its influence, Wall Street Pepe plans to launch features such as a decentralized exchange (DEX) and liquidity mining, further enriching the token's application scenarios. As a community-driven project, $WEPE is committed to attracting meme enthusiasts while building a practical blockchain platform.
