According to Foresight News and a report from CoinDesk, concerns about the potential selling pressure from the U.S. possibly selling Silk Road-related BTC have been exaggerated for several reasons: there appear to be many reports about the liquidation of 69,370 BTC, and if sold, they are likely to be sold in an orderly manner as they are being asked to obtain the best price. Meanwhile, the market is already aware this is a possibility, so this may have already been factored into market expectations. Additionally, since September, the market has absorbed over 1 million Bitcoins. This is reflected in the decrease of holdings among long-term holders, while the price of Bitcoin has risen from around $60,000 to over $100,000.
The last reason is that there was another government that sold a similar amount of Bitcoin data. The German government sold about 50,000 BTC from mid-June to mid-July 2023. At that time, the total value of these tokens was approximately $3.5 billion, about half of what it is worth now.
