Someone Sent the US Government an Ordinal Message Saying ‘H O D L’

However, as noted by Blockchain analytics platform Arkham Intelligence, one user took it upon themselves to deposit an on-chain plea directly into the government’s wallet

Bitcoin was trading lower during the morning hours of March 6 following a weekend rally that saw the crypto asset approach the $70k level.

The price of BTC dropped almost 5% after news emerged that over $2 billion worth of US Government-controlled funds were being shifted.

However, one user decided to personally deposit an on-chain plea into the government’s wallet, urging them to ‘HODL’ the funds rather than dump the BTC onto the market.

lolSomeone sent the US Government an Ordinal saying ‘H O D L’ https://t.co/0aULBXGd8P pic.twitter.com/Ct4eStIEpZ

The address is being flagged by Arkham as ‘US Government: Silk Road DOJ Confiscated Funds (bc1qj),’ and it pertains to bitcoin that was seized from James ‘Jimmy’ Zhong in November 2021.

Exploiting a bug in the online black market Silk Road, Zhong managed to obtain a total of over 50,000 bitcoins in September 2012.

The plea to ‘HODL’ references a common meme within the crypto community, which was sparked by a typo in a post on the Bitcointalk forum over a decade ago.

Depending on the outcome of the US election later this year, ‘hodling’ may even become government policy.

In a recent speech to attendees of the Bitcoin 2024 conference in Nashville, Donald Trump promised to maintain a strategic ‘stockpile,’ despite the fact that a significant portion of the funds already have claims against them.

Earlier this month, transfers related to Mt. Gox victim repayments, coupled with the German government’s offloading of its own seized BTC, led to a nervous period for crypto markets.

The government’s Bitcoin address was also subjected to an instance of on-chain graffiti when it received an inscription that translates to ‘TAXES ARE ROBBERY.’

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