The US govt to liquidate 69,000 BTC - page 5.

Faisal2202

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Quote from: suzanne5223 on January 09, 2025, 02:58:14 PM

This is what I pointed out some days ago not knowing that the US government would be the first to make a move by giving the DOJ the order to sell $6.5 billion in Bitcoin seized from Silk Road. However, the U.S. entities were said to hold 65% more Bitcoin than non-U.S. entities after Trump's national Bitcoin reserve announcement, and I believe they purposely doing selling of the BTC before Donald Trump's inauguration.

Are they going to sell more BTC or use the remaining as their national Bitcoin reserve?

I also had the same question and the answer I have for this is that maybe some of the members from the Biden administration or from any administration want to get rid of these BTC but who knows if this selling will give the most benefit to whom. As this money will still be going into the reserve in the form of bonds or fiat. But if they plan to add BTC to their reserve then why sell now?

Why they did not wait for the 20th of January, maybe when Trump had been given full authority, he would have opposed it with full power and would not made it happen and maybe that's why they (who knows who) made this step now. Well, the market took the hit and dumped to $91.5k which is bad, and as of writing this post still dumping. I see it can dump more, but red is necessary to see green. So no worry it will recover but this dump was unexpected.

NeuroticFish

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Quote from: suzanne5223 on January 09, 2025, 02:58:14 PM

Are they going to sell more BTC or use the remaining as their national Bitcoin reserve?

From what I read in that picture, it's that DOJ can sell those bitcoins, not that DOJ must sell them.
This being said, indeed, I would not be surprised if DOJ postpones the selling a little and then those bitcoins become the first batch in Trump's USA bitcoin reserve.

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Quote from: Aanuoluwatofunmi on January 09, 2025, 03:31:31 PM

Quote from: suzanne5223 on January 09, 2025, 02:58:14 PM

Are they going to sell more BTC or use the remaining as their national Bitcoin reserve?

Isn't it more better to assume that US are not investors of bitcoin, because their holdings are not what they have invested, instead seizures in their numbers, but we may have a change in all these, if the new present elect had a second thought on the policies and consider bitcoin for an investment in US, of course, i don't expect them to make their current holding a reserve, because all these does not belong to them.

Agreed. It will be the same situation as with the seized Bitcoin in Germany. They simply don't have the right to use these Bitcoins we are talking about.

Aanuoluwatofunmi

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Quote from: suzanne5223 on January 09, 2025, 02:58:14 PM

A lot of Bitcoin enthusiasts were bullish about this year's market being one of the best we have ever seen which is normal due to the Bitcoin market's 4-year cycle that always provides new ATH prices.

Obviously we still expect for more bullish trend for this month till maybe around March before we see a resentment the market price or change in season, but as for now, we are likely more going to see the bullish pattern till we achieve up to $130,000 plus or minus in bitcoin market price.

Quote from: suzanne5223 on January 09, 2025, 02:58:14 PM

However, the current 4years cycle market is different from the previous one we have experienced and we should be ready for any surprises because the major investors and holders in this current market are institutional banking, private investment organizations, and the government.

You're right about this, that is why some of the investors of bitcoin were being more sensitive at this time because of the possible more highs, all the last year events and activities that happened were record breaking achievements and we expect that they should be a cause for more prolonged bull season than anticipated.

Quote from: suzanne5223 on January 09, 2025, 02:58:14 PM

Are they going to sell more BTC or use the remaining as their national Bitcoin reserve?

Isn't it more better to assume that US are not investors of bitcoin, because their holdings are not what they have invested, instead seizures in their numbers, but we may have a change in all these, if the new present elect had a second thought on the policies and consider bitcoin for an investment in US, of course, i don't expect them to make their current holding a reserve, because all these does not belong to them.

suzanne5223

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A lot of Bitcoin enthusiasts were bullish about this year's market being one of the best we have ever seen which is normal due to the Bitcoin market's 4-year cycle that always provides new ATH prices.
However, the current 4years cycle market is different from the previous one we have experienced and we should be ready for any surprises because the major investors and holders in this current market are institutional banking, private investment organizations, and the government.

This is what I pointed out some days ago not knowing that the US government would be the first to make a move by giving the DOJ the order to sell $6.5 billion in Bitcoin seized from Silk Road. However, the U.S. entities were said to hold 65% more Bitcoin than non-U.S. entities after Trump's national Bitcoin reserve announcement, and I believe they purposely doing selling of the BTC before Donald Trump's inauguration.

Are they going to sell more BTC or use the remaining as their national Bitcoin reserve?

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