A new movement involving the US government caught the attention of the Bitcoin market this week. Data recorded on the blockchain and released by Galaxy Research show that the American authorities transferred 2.874,9 BTC, valued at approximately US$ 183.28 million, to the institutional platform Coinbase Prime.
The operation took place between blocks 957893 and 957894 of the Bitcoin network and originated from an address controlled by the government itself. With this transaction, the total volume of Bitcoin sent by the American authorities to Coinbase Prime throughout the day came close to 4,000 BTC, increasing investors' interest in the destination of these assets.
The movement quickly fueled discussions in the market about the purpose of the transfer. Among the possibilities considered are a possible preparation for liquidation of the assets or merely a reorganization related to the institutional custody services offered by Coinbase Prime.
The topic gained even more relevance because the United States government has been adopting a different approach regarding Bitcoins seized in judicial operations. In March of 2025, an executive order was signed to create the Strategic Bitcoin Reserve, an initiative led by the Department of the Treasury.
At the time, the Treasury Secretary, Scott Bessent, explained the strategy adopted by the government for the formation of the reserve. According to him, "the government would not buy Bitcoin directly for the Strategic Bitcoin Reserve, but would retain the seized BTC instead of selling them."
This statement had reduced expectations of large-scale liquidations of the Bitcoins under the control of the American authorities. Therefore, the new transfer to Coinbase Prime raised doubts about a possible operational change or even about the preparation of future sales.
Although transfers to institutional platforms do not automatically represent a liquidation, this type of movement is usually closely monitored by market participants. Large volumes sent to custody companies or brokers often increase investors' attention, since they may precede different strategies involving the assets.
So far, the U.S. government has not disclosed details about the specific purpose of the operation.
