🔔 U.S. Government to Sell 69,370 Bitcoins Worth $6.5 Billion

On January 9, a DOJ official confirmed approval to dispose of Bitcoin related to the Silk Road case, currently valued at $6.5 billion. 💰

Following the news, Bitcoin fell over 2.5% within 24 hours, now priced at $94,400. 📉

Historical U.S. Bitcoin Auctions:

• June 2014: First auction of 30,000 BTC, price steady around $600, no major drop.

• December 2014: Second auction of 50,000 BTC, fluctuated between $300-$400, no continuous decline.

• March 2015: Auctioned another 50,000 BTC, market panic reduced, prices stabilized quickly.

• November 2015: Cumulative auction of hundreds of thousands of BTC, no major market disruption, symbolizing Bitcoin’s “legitimate investment” status.

#BitcoinAuction #MarketImpact #SilkRoad #DOJ