The US government has been authorized to sell 69,000 BTC seized in the Silk Road investigation. These bitcoins are valued at $6.5 billion.
Permission to Sell Bitcoin
According to DB News, a federal judge ruled on December 30 that the DOJ can sell 69,370 bitcoins seized from the Silk Road darknet marketplace. This decision comes shortly before a new administration takes office, which had previously indicated plans not to sell these assets.
Crypto Community Reaction
Crypto influencers are actively discussing the news. @trading_axe, with 80,000 followers, claimed the bitcoins were already sold off via a Coinbase credit line and suggested the Trump administration used them as a strategic reserve. Another commentator, MartyParty, noted there's no reason to worry.
Market Reaction
Analysts like Ki Young Ju noted that despite the potential $6.5 billion sale, the market could absorb this amount in a week. Bitcoin's price hasn't reacted significantly yet: after briefly reaching six figures on January 7, the asset's value began to decline.
The sale of a large batch of Bitcoin by the US government is sparking active discussions in the crypto community. However, analysts believe that the market is capable of quickly adapting to such a volume. It is advisable to stay calm and monitor developments.
