The US Department of Justice (DOJ) is set to auction off $6.5 billion worth of Bitcoin seized from Silk Road, following a court ruling on Dec. 30. The US government currently holds 198,000 BTC, valued at around $18.5 billion. Analysts speculate that the Biden administration may sell off the Bitcoin before Trump's presidency. Despite concerns about the auction impacting BTC prices, history shows that previous US government Bitcoin auctions had little lasting effect on prices. The government has missed out on potential profits from previous Bitcoin sales, with the cumulative value of sold Bitcoin now estimated at $18.25 billion. The article does not offer investment advice, emphasizing the risks involved in investment decisions. Subscribe to the Markets Outlook newsletter for insights on investment opportunities and trading strategies. Read more AI-generated news on: https://app.chaingpt.org/news

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