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财经少华
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On January 9, the U.S. Department of Justice was authorized to sell $6.5 billion worth of Bitcoin seized from the "Silk Road" dark web marketplace. Following the news, the price of Bitcoin dropped from $95,000 to below $94,000, a decrease of 1.93% for the day.
It is worth noting that this news broke less than two weeks after Trump's new administration officially took office, and Trump had vowed at last year's Bitcoin conference not to allow the U.S. government to sell any Bitcoin, promising to list Bitcoin as a strategic reserve asset for the United States.
However, it currently appears that this ruling alone cannot ensure immediate liquidation, as the U.S. federal asset forfeiture involves multiple administrative steps and potential appeal windows. According to analysis from on-chain monitoring platforms, it is expected that the U.S. government will need several months to begin liquidating the Bitcoin seized from the "Silk Road," and analysts generally believe that any selling pressure will be quickly absorbed by the market.
Follow me for more information and insights in the cryptocurrency space.
#BTC
It is worth noting that this news broke less than two weeks after Trump's new administration officially took office, and Trump had vowed at last year's Bitcoin conference not to allow the U.S. government to sell any Bitcoin, promising to list Bitcoin as a strategic reserve asset for the United States.
However, it currently appears that this ruling alone cannot ensure immediate liquidation, as the U.S. federal asset forfeiture involves multiple administrative steps and potential appeal windows. According to analysis from on-chain monitoring platforms, it is expected that the U.S. government will need several months to begin liquidating the Bitcoin seized from the "Silk Road," and analysts generally believe that any selling pressure will be quickly absorbed by the market.
Follow me for more information and insights in the cryptocurrency space.
#BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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