Why Everyone Is Keeping a Close Eye on Mt. Gox, US Gov Bitcoin Wallets


Bitcoiners are eying up crypto held by the feds.

On Wednesday, the price of Bitcoin took a sharp nosedive—plunging 7% in an hour. It took most of the crypto market with it, too.

The dip came shortly before blockchain analytics firm Arkham had said wallets linked to defunct crypto exchange Mt. Gox and the U.S. government had moved large amounts of Bitcoin.

It turned out to be a false alarm as a result of a “bug fix” Arkham later said in a statement. But it led some to believe that the dip in prices came because the government started dumping large amounts of  Bitcoin into the market.

But the fact remains that the government-owned Bitcoin and Mt. Gox coins are intriguing to investors: On Thursday, another blockchain analytics firm,…

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