Posted 1/4/2024, 4:27:26 PM
U.S. Government Holds Over $8 Billion in Seized Bitcoin, Mass Liquidation Could Flood Market
- U.S. government has accumulated $8.3B worth of seized Bitcoin which could flood the market if liquidated
- Bulk liquidation of 41,491 BTC from Silk Road could prompt prices to fall if demand doesn't absorb excess supply
- Previous 9,861 BTC Silk Road sale netted $215M, showing potential price impact of larger liquidation
- U.S. Bitcoin portfolio could be 400,000 BTC worth $17.4B today if all seizures were held
- Collective sell decisions by major holders like U.S. government sway market sentiments and add volatility