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Coin Edition 2025-01-09 10:30:00

US Government’s $6.5B Silk Road Bitcoin Liquidation To Rattle the Market

US Government’s $6.5B Silk Road Bitcoin Liquidation To Rattle the Market

The US government approved selling 69,370 BTC seized from Silk Road, worth $6.5 billion. Traders adjust positions as DOJ plans Bitcoin sale, sparking market volatility. Peter Schiff suggests selling seized BTC could reduce the US budget deficit. The U.S. government has secured approval to liquidate 69,370 Bitcoin seized from the Silk Road marketplace. Worth about $6.5 billion, the move has raised fears in the crypto market as traders speculate on the potential impact of such a sale. [BREAKING] The US Government has received approval to sell 69,370 $BTC (~$6.5B) seized from Silk Road! Note that previous sales did not directly impact the price, as they were done via OTC, but market panic often caused temporary drops. Currently, the US Government holds… pic.twitter.com/DbZvmm4WyP — Spot On Chain (@spotonchain) January 9, 2025 The Bitcoin, acquired during law enforcement operations, is part of the government’s total holdings of approximately 197,000 BTC, valued at $18.6 billion. Seized Bitcoin and Market Reactions After months of legal proceedings, the U.S. Department of Justice (DOJ) received a federal judge’s approval to sell the Silk Road-re… The post US Government’s $6.5B Silk Road Bitcoin Liquidation To Rattle the Market appeared first on Coin Edition .

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