What's happening with Bitcoin?
Recently, the U.S. court gave the government the right to sell 69,000 Bitcoin, worth around $4 billion, to refund investors from a closed crypto company. This has caused fear in the market, as people worry that if all the Bitcoin is sold at once, the price could crash.
But let's think about itâwould the U.S. government really do that? Would they sell it all at once and cause a huge drop in Bitcoin's price, when 35% of Americans use cryptocurrency? It wouldnât make sense for them to hurt their own citizens.
Even if they sold all the Bitcoin, $4 billion is only about 0.0001% of Bitcoinâs total market cap. So, in the worst-case scenario, there might be a quick drop in price, but it would likely recover fast.
Also, donât forget that Bitcoin ETFs could buy those 69,000 Bitcoins, helping to stabilize the market. Bitcoin could still reach $70,000 soon.
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