Analysis: The market's concerns about the U.S. Department of Justice selling Bitcoin are exaggerated
The U.S. Department of Justice has been authorized to liquidate 69,370 BTC (worth about $6.5 billion) seized in the Silk Road case. According to Glassnode data, Trump has pledged not to sell the 187,236 BTC still held by the U.S. government. Most of these tokens held by the US government come from seizures on Bitfinex and Silk Road. Coindesk analyst James Van Straten suggests that market concerns about a selloff may be exaggerated as if these 69,370 bitcoins were indeed sold off, they would likely be sold in an orderly manner to get the best price possible. Meanwhile, the market was already aware that this could happen so this possibility might have already been digested by market expectations.(Coindesk)
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