CoinVoice has recently learned that, according to CoinDesk, concerns in the market regarding the U.S. Department of Justice potentially liquidating 69,370 bitcoins from Silk Road (approximately $6.5 billion) have been exaggerated. Analysts point out three key reasons:
Although 69,370 bitcoins is a large amount, the government must adhere to the principle of optimal pricing during liquidation and is expected to proceed in an orderly, phased manner. Moreover, the market has long anticipated this possibility, and the related effects have already been partially absorbed. In terms of market absorption capacity, since September 2024, the holdings of long-term holders (those holding for more than 155 days) have decreased by more than 1 million bitcoins, with current total holdings around 13.1 million. Despite such a large-scale sell-off, the price of bitcoin has risen from $60,000 to over $100,000, demonstrating strong market demand. The German government completed the sale of approximately 50,000 bitcoins (around $3.5 billion) between June and July 2023, providing an important reference for similar-scale liquidations. At that time, the market bottomed out while the German government still held 25,000 bitcoins, indicating that such a scale of sell-off is insufficient to dominate market trends. [Original link]
