The US Department of Justice has sanctioned the liquidation of 69,000 BTC, valued at $6.5 billion, from assets confiscated in the Silk Road case, according to Lookonchain.
The timing is noteworthy, occurring less than two weeks before Donald Trump’s inauguration. Speculation suggests Trump’s administration might focus on consolidating Bitcoin holdings under US control.
Currently, the United States holds roughly 197,000 $BTC , valued at $18 billion, highlighting the government's growing presence in the cryptocurrency market. This sale could influence both market dynamics and government-led crypto strategies moving forward.
Crypto Quant’s CEO says the market can handle the US government’s $6.5 billion Bitcoin sale in just a week.
Arthur Hayes is ready to buy if prices drop, showing strong support for Bitcoin.
El Salvador’s President is also preparing for this sale and has already bought 11 BTC to add to the country’s holdings.
