The US govt to liquidate 69,000 BTC | Bitcointalksearch.org

Ultegra134

hero member

Activity: 1778

Merit: 907

Quote from: tbct_mt2 on January 12, 2025, 11:19:39 PM

List of hacked exchanges since 2011.
It happened in 2013 and 2014 with two times of FBI actions and seized bitcoin on Silk Road, then shut it down.

Not all of his statements will be executed after his Inaguaration in coming days. There are many things and barriers against many of his great ideas and ambitious plans including his intention to build up a National Bitcoin Reserve for the USA.

Aha, whether you believe it or not, darknet markets, along with faucets, were my first contact with cryptocurrencies. I probably had browsed all of them, including Silk road. I hadn't realised so many years have passed since then.

Regarding the Bitcoin reserve, I have my doubts whether or not it's going to be implemented. I believe Trump wasn't actually supporting the idea of cryptocurrencies, perhaps he has changed his mindset but I doubt he's going to implement such significant changes. To be honest, I'd rather he fullfil other more important promises.

suzanne5223

hero member

Activity: 2786

Merit: 657

Want top-notch marketing for your project, Hire me

Quote from: Jawhead999 on January 13, 2025, 03:46:43 AM

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?

They choose to sell their fake Bitcoin i.e. ETFs version and continue to accumulate the real Bitcoin.

For me the current super cycle is still same like in the past because institutions are aggressively accumulating Bitcoin since the last year, they will have more power in the next super cycle which they can manipulate the market if they want.

Yes, they will want more accumulation power which will give them the chance to manipulate the market. However, they also want to make some profit which I believe is one of the reasons why they are doing what we're seeing now.
Like you said there's no reason to panic but there will see be more dump in the price of the market next week.

Quote from: ? on January 13, 2025, 08:31:10 AM

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.
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? Drive zone Online Mod APK

The U.S. government's Bitcoin holdings and potential sales significantly influence market dynamics, especially given institutional dominance. If more BTC is sold, market volatility may rise, shaping the next cycle's trajectory.

The market volatility has increased because the US government is selling Bitcoin every day and today alone at least $420,000,000 BTC is liquidated from the market we may still see more.
JPMorgan Chase CEO seized the opportunity of the liquidation to make a negative statement that "Bitcoin is a Ponzi scheme that has no intrinsic value." Which could lead to some panic sell.

?

Activity: -

Merit: -

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.
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? Drive zone Online Mod APK

https://talkimg.com/images/2025/01/09/OjWFz.png

The U.S. government's Bitcoin holdings and potential sales significantly influence market dynamics, especially given institutional dominance. If more BTC is sold, market volatility may rise, shaping the next cycle's trajectory.

betswift

copper member

Activity: 280

Merit: 5

Quote from: Jawhead999 on January 13, 2025, 03:46:43 AM

They choose to sell their fake Bitcoin i.e. ETFs version and continue to accumulate the real Bitcoin.

For me the current super cycle is still same like in the past because institutions are aggressively accumulating Bitcoin since the last year, they will have more power in the next super cycle which they can manipulate the market if they want.

When do you think we are going to fly up again to the new ATH?
After the real actions regarding the reserves?

Jawhead999

legendary

Activity: 1890

Merit: 1210

This is the transaction where Silk Road send to The US https://intel.arkm.com/explorer/address/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6

They've hold it for 4 years and they haven't sell it, there's nothing to worry if they sell the 69K Bitcoin because they have more than that, almost 200,000 Bitcoin if they want to sell https://intel.arkm.com/explorer/entity/usg

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?

They choose to sell their fake Bitcoin i.e. ETFs version and continue to accumulate the real Bitcoin.

For me the current super cycle is still same like in the past because institutions are aggressively accumulating Bitcoin since the last year, they will have more power in the next super cycle which they can manipulate the market if they want.

?

Activity: -

Merit: -

Quote from: tbct_mt2 on January 12, 2025, 11:19:39 PM

Quote from: Ultegra134 on January 12, 2025, 04:04:47 PM

I'm not sure about the strategic reserve, Trump has made many statements, covering a variety of issues, there's no way he'll fulfill all of them. I personally doubt that he'll fiddle too much with Bitcoin.

Not all of his statements will be executed after his Inaguaration in coming days. There are many things and barriers against many of his great ideas and ambitious plans including his intention to build up a National Bitcoin Reserve for the USA.

Bigger institutions are slow on their leads to many things, however, when they push for something, they do it with no looking back.
So we may need more time to see these actions from the administration - after all, the sentiment is still kept up because of these talks.

tbct_mt2

hero member

Activity: 2366

Merit: 838

Quote from: Ultegra134 on January 12, 2025, 04:04:47 PM

I'm aware of that, and I'm honestly surprised they haven't got rid of them earlier. How many years have passed since the shutdown of Silk road? Wasn't it somewhere in 2014 or 2015?

List of hacked exchanges since 2011.
It happened in 2013 and 2014 with two times of FBI actions and seized bitcoin on Silk Road, then shut it down.

Quote

I'm not sure about the strategic reserve, Trump has made many statements, covering a variety of issues, there's no way he'll fulfill all of them. I personally doubt that he'll fiddle too much with Bitcoin.

Not all of his statements will be executed after his Inaguaration in coming days. There are many things and barriers against many of his great ideas and ambitious plans including his intention to build up a National Bitcoin Reserve for the USA.

tread93

hero member

Activity: 1456

Merit: 609

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

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.

It don't matter if it belongs to them or not amigo, the US is big brother and if they seized that shit and had the green light to sell it that silk road is as good as gone lol. Its crazy tho no? I mean Trump plans to free Ross, and finally like a few weeks before he is freed all of his life's work that amounted to 6.5 billion at current pricing is now going to be sold by the very government who prosecuted him and is also about to save him? haha. I wonder what is going through his head. I wonder what he will do next with his new found freedom.

Ultegra134

hero member

Activity: 1778

Merit: 907

Quote from: Minor Miner on January 12, 2025, 12:34:51 AM

Bitcoin's market capitalization is over 1.9 trillion but did you know that Bitcoin's 24-hour trading volume is extremely low? Trading volume hasn't even reached $20 billion in the last 24 hours and if the US government decides to sell that much bitcoin, it will put a lot of pressure on the market. In the long run, things will recover but in the short term there will be significant impacts on bitcoin and market sentiment, which could also slow down bitcoin's price rally.

That's actually a very valid point I wasn't taking into account. You're right, it will affect the price, possibly result in a minor crash, but as we've both mentioned, it won't have any long-term effects. It's a major amount of money, even though it might not sound like it is, if we compare it with Bitcoin's market cap.

Quote from: Minor Miner on January 12, 2025, 12:34:51 AM

Let's not forget that these are bitcoins seized from Silk Road, the government did not buy them, and it is perfectly normal for the government to sell seized assets for other uses. If it is not sold under Biden, it will be sold under Trump if the US government needs the money for other purposes.

Bitcoin Strategic Reserve? Forget it, it won't happen anytime soon because Trump and the US government have no authority over national reserves. Ask Congress and the Fed as they are the ones with authority over national reserves.

I'm aware of that, and I'm honestly surprised they haven't got rid of them earlier. How many years have passed since the shutdown of Silk road? Wasn't it somewhere in 2014 or 2015?

I'm not sure about the strategic reserve, Trump has made many statements, covering a variety of issues, there's no way he'll fulfill all of them. I personally doubt that he'll fiddle too much with Bitcoin.

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

Quote from: Ultegra134 on January 11, 2025, 01:37:17 PM

Quote from: Altryist on January 11, 2025, 12:25:02 PM

It may not be a large amount of dollars for the US government, but if 70k BTC is sent to the market, it could significantly affect the price. Although Biden can formally still make decisions, I think that such decisions cannot be approved now without Trump. If it is true that the US wants to implement the idea of a bitcoin reserve, then there is no point in selling bitcoins, they need to strive to increase the amount of bitcoin. I do not believe that they have such an urgent need for money that they need to sell bitcoins for this.

It's $6.5 Billion against a market cap of approximately $1.90 Trillion. Is it still a huge amount of money? Yes. Will it hurt Bitcoin? Not really, compared to the market cap, it's a minor amount, not capable of massively impacting the price in the long-term. It'll definitely dent its price, but how long do you think it will last? The FUD deriving from the sale is what is more likely to drive the price down, as people tend to panic in such situations, thinking there's something bigger behind the U.S government selling their Bitcoin.

Bitcoin's market capitalization is over 1.9 trillion but did you know that Bitcoin's 24-hour trading volume is extremely low? Trading volume hasn't even reached $20 billion in the last 24 hours and if the US government decides to sell that much bitcoin, it will put a lot of pressure on the market. In the long run, things will recover but in the short term there will be significant impacts on bitcoin and market sentiment, which could also slow down bitcoin's price rally.

Quote from: Ultegra134 on January 11, 2025, 01:37:17 PM

Trump isn't in the chair yet, thus, Biden can still do as he pleases for the time being. Even if the sale actually occurs, it's very likely that Trump is going to buy it back, provided that he implements his idea of a Bitcoin reserve.

Let's not forget that these are bitcoins seized from Silk Road, the government did not buy them, and it is perfectly normal for the government to sell seized assets for other uses. If it is not sold under Biden, it will be sold under Trump if the US government needs the money for other purposes.

Bitcoin Strategic Reserve? Forget it, it won't happen anytime soon because Trump and the US government have no authority over national reserves. Ask Congress and the Fed as they are the ones with authority over national reserves.

m2017

legendary

Activity: 1792

Merit: 1296

Playbet.io - Crypto Casino and Sportsbook

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?

This is the old administration trying to sell these bitcoins as quickly as possible. I assume that with the arrival of the new administration, a gradual accumulation of bitcoin as a national reserve will begin. Of course, it looks stupid when they 1st sell the stock of bitcoins, and then start buying (not necessarily immediately), but this is exactly what happens due to the different interests of the governing groups.

I expect that if they shouted so loudly on every corner about creating a national reserve in bitcoin, then surely it is now impossible not to do it. I saw the news that several states in the USA have already launched a bill to create this reserve. Apparently, in the USA this is becoming inevitable.

Huppercase

hero member

Activity: 1036

Merit: 577

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?

This is what you get when things are politicize. Assuming Trump didn't make Bitcoin community his ally, I'm sure they are going to be holding it now because that coin didn't get there today, it was before they came into power and it doesn't make sense for the people responsible for the silk road case to want to liquidate that Bitcoin, it was never even their Bitcoin in the first place, why are they so eager to sell it, so they can launder it or share it among themselves.

This people forget that it's Trump that is coming to power, if this people are gone now it's going to be Trump as the president and he will be given the executive direction for every civil servants under him. It's either this people are not interested in Trump presidency or they are pay to do damage to the crypto market. However, they can't do much because we have seen Germany liquidate all their coins but Bitcoin still went to $100k after that, there is liquidity enough to handle that

Ultegra134

hero member

Activity: 1778

Merit: 907

Quote from: Altryist on January 11, 2025, 12:25:02 PM

It may not be a large amount of dollars for the US government, but if 70k BTC is sent to the market, it could significantly affect the price. Although Biden can formally still make decisions, I think that such decisions cannot be approved now without Trump. If it is true that the US wants to implement the idea of a bitcoin reserve, then there is no point in selling bitcoins, they need to strive to increase the amount of bitcoin. I do not believe that they have such an urgent need for money that they need to sell bitcoins for this.

It's $6.5 Billion against a market cap of approximately $1.90 Trillion. Is it still a huge amount of money? Yes. Will it hurt Bitcoin? Not really, compared to the market cap, it's a minor amount, not capable of massively impacting the price in the long-term. It'll definitely dent its price, but how long do you think it will last? The FUD deriving from the sale is what is more likely to drive the price down, as people tend to panic in such situations, thinking there's something bigger behind the U.S government selling their Bitcoin.

Trump isn't in the chair yet, thus, Biden can still do as he pleases for the time being. Even if the sale actually occurs, it's very likely that Trump is going to buy it back, provided that he implements his idea of a Bitcoin reserve.

Ale88

legendary

Activity: 2632

Merit: 2924

🌀 Cosmic Casino

Quote from: Baofeng on January 10, 2025, 03:06:55 PM

Quote from: Ale88 on January 10, 2025, 01:47:22 PM

Quote from: NeuroticFish on January 09, 2025, 03:37:12 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?

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.

This is what would make more sense, I don't see why there should be some kind of urgency to sell these bitcoins, I don't think the US government desperately needs 6 billion of dollars, for them that is peanuts. But of course this is also a great occasion for people to spread FUD, it's the same thing that happened when Germany was about to sell the bitcoins they seized and at the end the market didn't even notice it.

It's not that they are desperate to sell or make billions on those Bitcoin. We are still officially on Biden administration, and so with that they can still do whatever in their power to sell it to make it harder for the incoming President Trump.

With regards to FUD though, if you have to look at it, the news is on December 30, if I'm not mistaken, and it just resurface a couple of days ago. So there could really be some entities behind who wanted to create fear to pull the price down or the Biden administration, has political motives behind for wanting to sell the US Bitcoin.

Hopefully though in their last remaining days, they won't do that and just like what others say, it could be the first batch of Trump's Bitcoin reserve plan.

It doesn't really matter the news date because the point of these news is spreading FUD. Don't you guys remember the costantemente FUD we had in the past years about China banning bitcoin and the DoJ shutting down Tether? Every month the same old story, and big website would just copy-paste these news without even checking the source or the date.

suzanne5223

hero member

Activity: 2786

Merit: 657

Want top-notch marketing for your project, Hire me

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

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.

If the market replicates the previous cycle trend then what we will see from this month till March market will be up and down of the Bitcoin market price. However, the Trump inauguration can be a major force that will introduce the bullish trend we will never expect will happen.

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

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.

Maybe you don't understand what I am saying. I said this current cycle market is different from the previous in the sense that the major leading investors in the cycle who are BlackRock, Fidelity, etc can decide to liquidate a huge portion of their holding so we should also be ready fo this type of surprises.

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.

We can categorise their holding as their investment because the shady business was done on their soil specifically with their citizen's stolen SSN number, or credit card.

satscraper

hero member

Activity: 714

Merit: 1298

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?

I don't believe in their national Bitcoin reserve fairy tail. The govt's intention to sell ^{probably over OTC} those 69,000 BTC is not in line with it. More likely ^{for me} the talks about BTC-relevant national reserve were initiated by Musk who is an old soldier at bogus narratives. ^{Why he did it - only time will tell us.} Thus, summarizing and answering you question - govt will not stop in selling more BTC.

Altryist

legendary

Activity: 2100

Merit: 1340

Quote from: Ultegra134 on January 11, 2025, 11:48:29 AM

Wasn't supposedly Trump interested in creating a national Bitcoin reserve, similar to how an oil reserve works? I know that Trump isn't on the White house yet and Biden is still the president, supposing it happens, it wouldn't be too much of a deal, compared to Bitcoin's current market cap. We're talking about $6.5B, it's not a huge amount in U.S terms either.

On top of that, just like you pointed out, a few users were worried about the possible repercussions in price, and in my opinion, that will only put a minor dent in the price. $6.5B in a market cap of over $1.85T is a drop in the ocean, perhaps the circulating FUD can create a temporary chaos, but that's about it.

It may not be a large amount of dollars for the US government, but if 70k BTC is sent to the market, it could significantly affect the price. Although Biden can formally still make decisions, I think that such decisions cannot be approved now without Trump. If it is true that the US wants to implement the idea of a bitcoin reserve, then there is no point in selling bitcoins, they need to strive to increase the amount of bitcoin. I do not believe that they have such an urgent need for money that they need to sell bitcoins for this.

Ultegra134

hero member

Activity: 1778

Merit: 907

Quote from: Zoomic on January 11, 2025, 09:53:31 AM

I see that many bitcoiners are particularly concerned about the effect such liquidation would have on bitcoin's price. It is normal for any serious investor who understands how large scale selling could trigger volatility to be worried over the after effects of such sales. However, this might not entirely be bad news for everyone. Many are patiently waiting for an entry point into bitcoin, a price dip would be a perfect opportunity for them.

But from what I've read so far, the court has only given a "go ahead" to sell, no bitcoin has been sold already. Whatever reaction the market is having right now might be motivated by FUD and anticipation for the actual sales.

Again, looking at the timing of these whole order, I am convinced that this decision to sell is politically motivated to discourage the incoming government.

Wasn't supposedly Trump interested in creating a national Bitcoin reserve, similar to how an oil reserve works? I know that Trump isn't on the White house yet and Biden is still the president, supposing it happens, it wouldn't be too much of a deal, compared to Bitcoin's current market cap. We're talking about $6.5B, it's not a huge amount in U.S terms either.

On top of that, just like you pointed out, a few users were worried about the possible repercussions in price, and in my opinion, that will only put a minor dent in the price. $6.5B in a market cap of over $1.85T is a drop in the ocean, perhaps the circulating FUD can create a temporary chaos, but that's about it.

john_egbert

member

Activity: 126

Merit: 11

Quote from: Z-tight on January 11, 2025, 10:47:51 AM

Quote from: Oshio-man on January 11, 2025, 10:13:14 AM

With this amount their bitcoins has accumulated to, I think it will give this new administration to make bitcoin a legal tender in the land of U.S because it will improve their economic that is heading to collapse,

The U.S. cannot make BTC a legal tender, i don't think they stand anything to gain by doing that. We are talking about a strategic reserve that we are not even sure if it will happen, legal tender status is not in the discussion.

Agreed.
Would be glad if even the reserves would work out in the end positively for the Bitcoin and community as a whole.

Z-tight

legendary

Activity: 1106

Merit: 1124

Wheel of Whales 🐳

Quote from: Oshio-man on January 11, 2025, 10:13:14 AM

I know that Joe Biden government officials will not be happy for this massive pump of bitcoin, because it has touched $108k since Trump won the election, and the bitcoin they are holding for some years has accumulate which it will reach the government to establish some new projects to contribute to the growth of their economic.

If the confiscated coins in their possession has risen in price, why do you think Biden's government will be unhappy about that. I don't think Joe Biden cares about BTC or crypto, but it is not like he would lose sleep thinking about its downfall.

Quote from: Oshio-man on January 11, 2025, 10:13:14 AM

With this amount their bitcoins has accumulated to, I think it will give this new administration to make bitcoin a legal tender in the land of U.S because it will improve their economic that is heading to collapse,

The U.S. cannot make BTC a legal tender, i don't think they stand anything to gain by doing that. We are talking about a strategic reserve that we are not even sure if it will happen, legal tender status is not in the discussion.

Oshio-man

member

Activity: 224

Merit: 41

I know that Joe Biden government officials will not be happy for this massive pump of bitcoin, because it has touched $108k since Trump won the election, and the bitcoin they are holding for some years has accumulate which it will reach the government to establish some new projects to contribute to the growth of their economic, With this amount their bitcoins has accumulated to, I think it will give this new administration to make bitcoin a legal tender in the land of U.S because it will improve their economic that is heading to collapse, which the current administration will not allow such thing to happen to their economic than to use decentralized currency to correct the errors.

Zoomic

sr. member

Activity: 630

Merit: 277

Quote from: Mpamaegbu on January 10, 2025, 07:16:06 AM

Yes, I checked and no single BTC had been withdrawn from that wallet. Indeed, it's not good news. If we already dipped to this point when the said BTC hadn't even been touched, we can imagine what we happen when the market is flooded with it.

I see that many bitcoiners are particularly concerned about the effect such liquidation would have on bitcoin's price. It is normal for any serious investor who understands how large scale selling could trigger volatility to be worried over the after effects of such sales. However, this might not entirely be bad news for everyone. Many are patiently waiting for an entry point into bitcoin, a price dip would be a perfect opportunity for them.

But from what I've read so far, the court has only given a "go ahead" to sell, no bitcoin has been sold already. Whatever reaction the market is having right now might be motivated by FUD and anticipation for the actual sales.

Again, looking at the timing of these whole order, I am convinced that this decision to sell is politically motivated to discourage the incoming government.

bettercrypto

sr. member

Activity: 1498

Merit: 271

DGbet.fun - Crypto Sportsbook

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.
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?

So it seems like they wanted the price of bitcoin to drop before President Trump's inauguration day. And when the price of Bitcoin dumps before the inauguration and the day of Trump's inauguration itself arrives and he says something positive about bitcoin reserves, the price of Bitcoin will suddenly pump up.

It seems like this is playing on my imagination, you know in this industry how fast the price of bitcoin can rise is also so fast that there will be a sudden correction to take liquidation.

Popkon6

sr. member

Activity: 798

Merit: 377

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.
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?

We don't know for sure what the future holds, but if they do sell Bitcoin, it will definitely be after Donald Trump is sworn in. But in this Bitcoin market, the big institutions are definitely holding Bitcoin for the long term, but yes, we definitely believe that Bitcoin will hit its highest Bitcoin price in a four-year cycle.
As has been proven this year and every year in the past, we can definitely suspect that the DOJ will definitely sell Bitcoin because if not now, then they will definitely sell Bitcoin in the future. This is not surprising because Donald Trump has released documents to deposit Bitcoin. But we will need to wait for some time after Donald Trump is sworn in to be sure about it

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: franky1 on January 10, 2025, 05:07:42 AM

it might also just be a legal process, for instance. if the pardon of the silk road owner does go through, then the us gov having his BTC means that they need to give them back. so disposing of them before the pardon means there is nothing to return as it legally was spent whilst the crimes were still valid

it might be bidens teams last attempt to not let trump have his cake and eat it. if trump is to pardon silkroads (currently incarcerated) owner, biden might not want trump to also have his btc to do a deal with the guy or hand them back to the guy

It's an interesting point. However, on a similar logic, in case of pardon, wouldn't be USofA bound to repay those coins anyway, i.e. buy them back (possibly more expensive)?!
I mean it's a huge amount. It's not like "oops, sorry, bad luck"; if the owner is entitled to get the coins back, they will be given, no matter what; the law is supposed to work like that.

Quote from: NotATether on January 10, 2025, 06:10:19 AM

All the muppets who said the USA would start a strategic bitcoin reserve, raise your hand.

You can consider me guilty if you want

However, I simply don't rule out the possibility; that doesn't mean I rely on that. I know that much on politicians...

Quote from: Ale88 on January 10, 2025, 01:47:22 PM

I don't see why there should be some kind of urgency to sell these bitcoins

Exactly. It would be a shame if everybody will laugh on US for not learning anything from Germany's epic fail.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

This has just cleared their path that they can sell those Bitcoins and I don't think they would be selling it right now, Trump's era has been speculated to be Bitcoin friendly but let's wait and see what's in store for us but let me clearify this would be used like a bait to create fear of mass selling out without actually selling it to change the tide of market. I think some are waiting for bitcoin to start dumping in order for them to buy while others are optimistic that it wouldn't go below $90k and still hodling on to it. No matter whatever the news or decision the FED makes they can never be Bitcoin or crypto friendly and it would be better if they sell those Bitcoins sooner than later so they cannot use it to manipulate the market.

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: Mpamaegbu on January 10, 2025, 07:16:06 AM

Well, I don't think it was a mere comment from Trump for the sake of electioneering. I believe he meant it and more likely to carry it out than not executing it. Trump will not like to fail on that and be seen as talks without actions. Already, people see him an loquacious and I don't think he would want to prove them right.

Well, assuming that is his serious intention, I wonder how he will go about it. Because according to the news I read, the US government and the Fed are two completely separate agencies and do not have to obey each other's orders. Meanwhile, as we all know, national reserves are held by central banks (Fed) and not by the government. I guess you didn't miss the Fed statement on bitcoin and that's why I'm not bullish on bitcoin reserves.

I also supported Trump in the election but I don't believe in his Bitcoin reserve strategy and I consider it a statement aimed at winning votes.

Quote from: Mpamaegbu on January 10, 2025, 07:16:06 AM

Yes, I checked and no single BTC had been withdrawn from that wallet. Indeed, it's not good news. If we already dipped to this point when the said BTC hadn't even been touched, we can imagine what we happen when the market is flooded with it.

That's what i mean, if those bitcoins were actually sold the market would react more negatively. Many people see this as good news, I hope they bought and will buy more if the price continues to fall like they say.
It is surprising that we are in the bull season and everyone wants Bitcoin to go up sharply to take profits but there are also people who expect Bitcoin to go down at this time.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: franky1 on January 10, 2025, 07:18:54 AM

not good news?
so when has discount before bull season been bad news? its great opportunity for many people

The liquidation isn't good news.

But the effect of it is good news for those that want to buy when it's cheaper compared to the ATH. Now, the uncertainty is going to get in if ever the price will go back to $100k+.

Personally, I believe that it will be back there and we're going to have new ATHs for this year. While the skeptics to their decisions and Bitcoin, they will want to wait a little longer.

Amphenomenon

hero member

Activity: 770

Merit: 536

Hope Jeremiah 17vs7

Quote from: franky1 on January 10, 2025, 07:18:54 AM

Quote from: Mpamaegbu on January 10, 2025, 07:16:06 AM

Yes, I checked and no single BTC had been withdrawn from that wallet. Indeed, it's not good news. If we already dipped to this point when the said BTC hadn't even been touched, we can imagine what we happen when the market is flooded with it.

not good news?
so when has discount before bull season been bad news? its great opportunity for many people

A discount Indeed Grin

, with the current news many might be low key hoping they sell in order to buy the dip and get more units of btc and to be honest, I might still want it since it will increased the unit I make from signature campaign 😉.

Quote from: Hamza2424 on January 10, 2025, 07:32:31 AM

Quote from: Amphenomenon on January 09, 2025, 04:25:51 PM

I still agree to this, I think it will depend on what Trump may decide on once he takes charge this January but either ways, they selling everything may likely be a bad idea but since we are still much having a bullish sentiments, it won't be felt much once Trump is on sit.

Firstly I'm curious about the news source, secondly yup we are still bullish on the market developments for the rest we need to acknowledge that maybe a consolidation for the second peak is cooking here like my first peak target was 111.11k but we are in a zone where there is no chance that we are gonna drive up to this target and the reason is some negative developments and global economic conditions.

The news has become quite popular now: https://cointelegraph.com/news/us-cleared-sell-6-5-b-bitcoin-crash-btc-price.
They can chose to sell if they feel like.

Quote from: Hamza2424 on January 10, 2025, 07:32:31 AM

Still, in the crypto market, the arrival of Trump into power can change things so I'm still optimistic that the first peak still has a chance to touch that level or above that level till the last week of Jan if we don't hi that level in jan we are gonna get trapped into a consolidation zone from the range of 87.5k to the peak level.

We are still optimistic but I know many are still not disrupting a bearish market before Trump finally take charge and we begin to see the more bullish season Grin

.

Ever-young

sr. member

Activity: 1414

Merit: 272

Get $2100 deposit bonuses & 60 FS

Quote from: goldkingcoiner on January 10, 2025, 12:18:12 PM

My bad, meant current supply. Not market cap. 69K is a bit over 0.3% of total supply so far.

Either way, too small a number to make any significant dents into Bitcoin price in the long term.

It won't be enough to make a heavy price drop in the market for the long run, but it will still affect the market. Sometimes it's not really how much bitcoin is to be sold in the market that causes this price drop; sometimes it's the people involved in making the sale or planning to sell off that cause panic in newbie traders minds, which leads them to panic selling. If truly the news was what dragged Bitcoin down from $101k, it recovered back down to $91k before starting to pull off back. Imagine what the future wallet recording selling could have done to the market in a short run.

Z-tight

legendary

Activity: 1106

Merit: 1124

Wheel of Whales 🐳

Quote from: Ale88 on January 10, 2025, 01:47:22 PM

But of course this is also a great occasion for people to spread FUD, it's the same thing that happened when Germany was about to sell the bitcoins they seized and at the end the market didn't even notice it.

Yeah, people have also been spreading fud that Joe Biden is probably going to push for the sale of all BTC's currently held by the United States before leaving office, but there is no indication that he is going to do that, there is even no reason why he should do that. The only thing i can think of is that it is fud, why sell all BTC's, when the incoming president can buy them back when he takes office and set up a strategic reserve if he wants to.

Baofeng

legendary

Activity: 2576

Merit: 1655

Quote from: Ale88 on January 10, 2025, 01:47:22 PM

Quote from: NeuroticFish on January 09, 2025, 03:37:12 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?

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.

This is what would make more sense, I don't see why there should be some kind of urgency to sell these bitcoins, I don't think the US government desperately needs 6 billion of dollars, for them that is peanuts. But of course this is also a great occasion for people to spread FUD, it's the same thing that happened when Germany was about to sell the bitcoins they seized and at the end the market didn't even notice it.

It's not that they are desperate to sell or make billions on those Bitcoin. We are still officially on Biden administration, and so with that they can still do whatever in their power to sell it to make it harder for the incoming President Trump.

With regards to FUD though, if you have to look at it, the news is on December 30, if I'm not mistaken, and it just resurface a couple of days ago. So there could really be some entities behind who wanted to create fear to pull the price down or the Biden administration, has political motives behind for wanting to sell the US Bitcoin.

Hopefully though in their last remaining days, they won't do that and just like what others say, it could be the first batch of Trump's Bitcoin reserve plan.

coolcoinz

legendary

Activity: 2814

Merit: 1192

Quote from: headingnorth on January 09, 2025, 11:43:47 PM

If the Biden DOJ proceeds with the sale, the Trump administration can simply buy back the bitcoin at a lower price then they were sold or around the same price.
Even at a bit higher price, it is worth it to buy back the bitcoin.

Given that Trump is about to take office in just a few days, it would be dumb for the DOJ to sell at this time knowing Trump can simply buy back the bitcoin almost immediately at around the same price, by executive order. It would made more sense for them to dump the bitcoin months ago when the price was much different but now it doesn't make any sense given the current timeframe. Also makes them look bad because it can be seen as a purely political move just to spite Trump.

I don't think the bitcoin haters in the government see it this way. To them it changes a lot.

First of all it forces Trump to spend money on this. Instead of moving coins from one agency to another he'll have to make a purchase. I'm not an expert in this, but spending budget needs more approval than allocation of an asset that's already in possession of the government. Think of it like the army giving away some of its unused vehicles to the police, versus the police asking for money to buy the same vehicles from private owners. It's not only going to be harder to do, but also count as government spending money. If that spending ends up being a loss next year, it's going to give democrats something to throw at Trump.

Also, it's a bit late, but if the current administration managed to allocate the money gained from selling bitcoin and spend it on some social projects, like schools, social services, or send it to Ukraine, Trump would not be able to use it to buy back BTC and Biden would say he used worthless bitcoin that was sitting there for years against president Zelensky... wait Putin! President Putin! Tongue

Ale88

legendary

Activity: 2632

Merit: 2924

🌀 Cosmic Casino

Quote from: NeuroticFish on January 09, 2025, 03:37:12 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?

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.

This is what would make more sense, I don't see why there should be some kind of urgency to sell these bitcoins, I don't think the US government desperately needs 6 billion of dollars, for them that is peanuts. But of course this is also a great occasion for people to spread FUD, it's the same thing that happened when Germany was about to sell the bitcoins they seized and at the end the market didn't even notice it.

Wakate

hero member

Activity: 1246

Merit: 560

fillippone - Winner contest Pizza 2022

Quote from: Zlantann on January 10, 2025, 08:54:31 AM

Quote from: kotajikikox on January 10, 2025, 05:49:14 AM

From other news outlets too all it says is that the court has now cleared USA's DOJ to sell their bitcoins. Words like greenlights and allows were also used. It does not mean DOJ must sell it nor they will sell it immediately. Being cleared to do this simply just means that the year long dispute is now taken care of and the DOJ can proceed to think about what to do with the seized bitcoins.

I am not too worried about this. We do not know if DOJ will actually sell it but if they do, it is just an opportunity for us to acquire more before Trump takes his seat and eventually adds bitcoin to their national reserve.

The government just got a court judgment that gives them permission to sell. Some anti-Bitcoin forces have been encouraging Joe Biden to give Donald Trump Bitcoin reserve a setback by selling off those Bitcoins. However, the government has not indicated interest in selling them..

The process of selling this could be complex and time consuming since it has to go through stages of administrative approvals. Except the process is hastened it might linger until after January 20th. Secondly, the court judgment can still be appealed which can halt the immediate disposal of the Bitcoins.

I think this might take a little longer and eventually, things might go through other side which could halt the selling of the Bitcoin. The crypto market is still ranging looking like the price of Bitcoin could go down a little more, giving us the opportunity to buy more Bitcoin; that's left for those that have the funds to do so. I think many Bitcoin influencers and whales are already getting prepared for the huge bull momentum that could take place after Donald Trump gets inaugurated.
We might see some sharp spike in the price of Bitcoin which could also influences altcoins to gain some ground in this anticipated bull movement that could surprise everyone.

goldkingcoiner

legendary

Activity: 2310

Merit: 2119

A Bitcoiner chooses. A slave obeys.

Quote from: franky1 on January 10, 2025, 07:13:16 AM

Quote from: goldkingcoiner on January 10, 2025, 06:53:35 AM

It does not matter much whether they sell or not, what matters is the FUD that will push the price down. The act of selling that amount of Bitcoin will not have a great effect on the price of Bitcoin, seeing as it is only about 0.3% of the total market cap. And obviously whales will be climbing over each other to gobble that coin up.

"its only about 0.3% of the total market cap" (facepalm)

My bad, meant current supply. Not market cap. 69K is a bit over 0.3% of total supply so far.

Either way, too small a number to make any significant dents into Bitcoin price in the long term.

tabas

hero member

Activity: 3234

Merit: 775

Top Crypto Casino

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?

No one knows about it. Until it has passed as a law and there's an assurance then that Bitcoin national reserve is for real. As of now, let's take it as a word of mouth from Trump. He's not yet in the position to make sure that he'd definitely make it happen. What is happening now is the action still of the Biden administration and they've probably planned this long time ago and all of the proceeds might be allotted into something else. But hopefully, there will be some good news once Trump steps into the white house and clean all of this mess that the Biden's admin left.

Zaguru12

legendary

Activity: 952

Merit: 1000

Quote from: Z-tight on January 10, 2025, 09:47:30 AM

I don't know if this news is directly connected to the fall in price, they have actually not sold any coins, but it could be that people are simply reacting to the news. However, people who do not fall for fud will take advantage of the drop and accumulate more BTC's, it is the weak hands that react to every fud and speculation and sell off immediately.

It is simply the people’s reaction causing this dump, we have been saying long term ago that it is not sales by the government or institutions that causes huge dumps but rather it is the FUD the sales cause that actually affects the market. This is similar to the August crash of bitcoin from $70k to $48k due to the news of German liquidating the seized bitcoin in their possessions, for now I think bitcoin will be ranging until that liquidation has started by them selling then we can again see further dump, my prediction is that should the $90k fails to hold the we might be heading to $82k support which I believe for the month should definitely hold.
We are also expecting the hype day which is the Inauguration Day and what policy will be implemented which will definitely change the narrative this month

Nwada001

hero member

Activity: 798

Merit: 702

Quote from: ? on January 09, 2025, 11:50:18 PM

Does other Governments across the world also hold BitCoins? I wonder Govt. Of India holds any reserves.
also Kingdom Of Bhutan also holds a lot of bitcoins.

You can check on this data “ Bitcoin Holdings of Countries & Governments “ to see other countries that hold bitcoin, both by seizure, mined, and those who bought and hold bitcoin.

Quote from: franky1 on January 10, 2025, 07:18:54 AM

Quote from: Mpamaegbu on January 10, 2025, 07:16:06 AM

Yes, I checked and no single BTC had been withdrawn from that wallet. Indeed, it's not good news. If we already dipped to this point when the said BTC hadn't even been touched, we can imagine what we happen when the market is flooded with it.

not good news?
so when has discount before bull season been bad news? its great opportunity for many people

It's a great opportunity for many people and bad news for those who were already planning to sell. People who don't intend to hold bitcoin for long, such as those who hear news that causes panic in the market, are always affected negatively.

On the other hand, some will also consider it not to be good news looking at what will happen to the market if they eventually sell. If the news of approval can cause this drop in the market, what more will selling do to the market? But whatever selling news will bring, it will still be an advantage for buying cheap for many.

Z-tight

legendary

Activity: 1106

Merit: 1124

Wheel of Whales 🐳

Quote from: seoincorporation on January 10, 2025, 09:17:58 AM

69k btc is a serious amount, maybe that explain the drop we saw in the past hours,

I don't know if this news is directly connected to the fall in price, they have actually not sold any coins, but it could be that people are simply reacting to the news. However, people who do not fall for fud will take advantage of the drop and accumulate more BTC's, it is the weak hands that react to every fud and speculation and sell off immediately.

seoincorporation

legendary

Activity: 3388

Merit: 3154

69k btc is a serious amount, maybe that explain the drop we saw in the past hours, it looks like the crash is on the way, for a moment BTC lose close to 10% of it's value, if we see the price of the past 7 days we can see how it went from 102k to 91k, that's something serious for a big market.

Let's see how the market flows now, maybe it start going back to $100k again.

Zlantann

legendary

Activity: 1106

Merit: 1113

Quote from: kotajikikox on January 10, 2025, 05:49:14 AM

From other news outlets too all it says is that the court has now cleared USA's DOJ to sell their bitcoins. Words like greenlights and allows were also used. It does not mean DOJ must sell it nor they will sell it immediately. Being cleared to do this simply just means that the year long dispute is now taken care of and the DOJ can proceed to think about what to do with the seized bitcoins.

I am not too worried about this. We do not know if DOJ will actually sell it but if they do, it is just an opportunity for us to acquire more before Trump takes his seat and eventually adds bitcoin to their national reserve.

The government just got a court judgment that gives them permission to sell. Some anti-Bitcoin forces have been encouraging Joe Biden to give Donald Trump Bitcoin reserve a setback by selling off those Bitcoins. However, the government has not indicated interest in selling them..

The process of selling this could be complex and time consuming since it has to go through stages of administrative approvals. Except the process is hastened it might linger until after January 20th. Secondly, the court judgment can still be appealed which can halt the immediate disposal of the Bitcoins.

fuguebtc

hero member

Activity: 1974

Merit: 539

Leading Crypto Sports Betting & Casino Platform

Quote from: Hanadawa on January 10, 2025, 06:46:46 AM

I think the US Government is selling their Bitcoin during the Biden administration with the aim of preventing Trump from profiting from the Bitcoins confiscated by the US. This is a normal thing in politics. They got Bitcoin during their time so it makes sense that they would want to sell it. But I still doubt whether the sale will actually happen. But it seems that the effect of the issue has kept Bitcoin at $92k-$95k. If the liquidation really happens I think there is a possibility that Bitcoin will crash and return to the $60k level. And the idea of making Bitcoin a strategic reserve I don't think it will happen anytime soon because if Trump makes Bitcoin a strategic reserve it seems that it will affect the US economy to become unstable because the price of Bitcoin is also quite volatile. -CMIIW

Your hypothesis would be correct if the Biden administration used the proceeds from selling bitcoin to do something that benefits them. If they just sell Bitcoin for USD but do nothing with the money then it cannot be said that they intentionally obstructed the Trump administration because the money is still there.

According to some data, they have not sold any bitcoins yet and we need to wait and see what they do next. But if they sell, bitcoin price will definitely drop but I don't think it will be dumped below $60k.

I don't even believe there will be any proposals for national reserve bitcoin, let alone that we'll see it happen in this cycle. The Federal Reserve has made a statement but many people still do not accept this fact.

Hamza2424

legendary

Activity: 966

Merit: 1042

#SWGT CERTIK Audited

Quote from: Amphenomenon on January 09, 2025, 04:25:51 PM

I still agree to this, I think it will depend on what Trump may decide on once he takes charge this January but either ways, they selling everything may likely be a bad idea but since we are still much having a bullish sentiments, it won't be felt much once Trump is on sit.

Firstly I'm curious about the news source, secondly yup we are still bullish on the market developments for the rest we need to acknowledge that maybe a consolidation for the second peak is cooking here like my first peak target was 111.11k but we are in a zone where there is no chance that we are gonna drive up to this target and the reason is some negative developments and global economic conditions.

Still, in the crypto market, the arrival of Trump into power can change things so I'm still optimistic that the first peak still has a chance to touch that level or above that level till the last week of Jan if we don't hi that level in jan we are gonna get trapped into a consolidation zone from the range of 87.5k to the peak level.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: Mpamaegbu on January 10, 2025, 07:16:06 AM

Yes, I checked and no single BTC had been withdrawn from that wallet. Indeed, it's not good news. If we already dipped to this point when the said BTC hadn't even been touched, we can imagine what we happen when the market is flooded with it.

not good news?
so when has discount before bull season been bad news? its great opportunity for many people

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: Marvell1 on January 10, 2025, 05:24:39 AM

No, the US has no determination or effort to use bitcoin as a national reserve, it is all just a statement by Trump during the election campaign and an idea of Senator Lummis. Everything is just a rumor and we don't have any more information about it but many of us deliberately exaggerated this rumor causing many people to misunderstand.

Well, I don't think it was a mere comment from Trump for the sake of electioneering. I believe he meant it and more likely to carry it out than not executing it. Trump will not like to fail on that and be seen as talks without actions. Already, people see him an loquacious and I don't think he would want to prove them right.

Quote

According to ARKM, all of DOJ's bitcoins are still intact, they haven't sold them yet but the market is reacting negatively and I don't think it's a good thing they haven't sold.

Yes, I checked and no single BTC had been withdrawn from that wallet. Indeed, it's not good news. If we already dipped to this point when the said BTC hadn't even been touched, we can imagine what we happen when the market is flooded with it.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: goldkingcoiner on January 10, 2025, 06:53:35 AM

It does not matter much whether they sell or not, what matters is the FUD that will push the price down. The act of selling that amount of Bitcoin will not have a great effect on the price of Bitcoin, seeing as it is only about 0.3% of the total market cap. And obviously whales will be climbing over each other to gobble that coin up.

"fud that will push the price down" = speculation that offers discounts before ATH full bull season, yum yum

"its only about 0.3% of the total market cap" (facepalm)... markets are not priced by the cap. you should check CEX market volume to judge how much coin is actually circulated through a market and then judge the impact coin could make if sold on public CEX as one lump or batched out over days/weeks
secondly, most DOJ sales are done via private auction not CEX market public sales, so yes its more speculation of gossip rather than direct impact on market

goldkingcoiner

legendary

Activity: 2310

Merit: 2119

A Bitcoiner chooses. A slave obeys.

It does not matter much whether they sell or not, what matters is the FUD that will push the price down. The act of selling that amount of Bitcoin will not have a great effect on the price of Bitcoin, seeing as it is only about 0.3% of the total ~~market cap~~ supply so far. And obviously whales will be climbing over each other to gobble that coin up.

The question of will it be sold or not: I think that under the Biden administration it will probably be sold. Under Trump, it probably will not be sold. But the whales are going to milk this FUD as much as they can, either way. So I expect lots of panic selling ahead and a cheap Bitcoin price which will eventually and probably quickly recover.

We already had a 10% dip from the first wave of FUD, followed by a quick recovery. I think we will see this pattern again. We might even see sub 80K.

A good buying opportunity in my book.

edit: supply so far, not market cap.

?

Activity: -

Merit: -

Quote from: Hanadawa on January 10, 2025, 06:46:46 AM

I think the US Government is selling their Bitcoin during the Biden administration with the aim of preventing Trump from profiting from the Bitcoins confiscated by the US. This is a normal thing in politics. They got Bitcoin during their time so it makes sense that they would want to sell it. But I still doubt whether the sale will actually happen. But it seems that the effect of the issue has kept Bitcoin at $92k-$95k. If the liquidation really happens I think there is a possibility that Bitcoin will crash and return to the $60k level. And the idea of making Bitcoin a strategic reserve I don't think it will happen anytime soon because if Trump makes Bitcoin a strategic reserve it seems that it will affect the US economy to become unstable because the price of Bitcoin is also quite volatile. -CMIIW

Nah, do you think they would make so many reserves it would affect them in such a way?
Highly unlikely - it's done more for prestige and get the lead in the new brand thing.
So that's not the case, in my opinion.
Maybe they just try to shake up the sentiment to get the market rolling afterward. Or it's just done purely to get rid of the BTC that was confiscated.

Hanadawa

sr. member

Activity: 728

Merit: 412

OrangeFren.com

Quote from: davis196 on January 10, 2025, 02:21:39 AM

Do you suggest, that the selling of six billion USD worth of Bitcoins would break the 4-year cycle of the BTC market?
I don't mind the USA selling seized Silk Road Bitcoins. This would push the BTC price down for a while, which presents an opportunity for the BTC investors to buy cheaper BTC before another bull run occurs. I'm still very skeptical about the idea of a US strategic Bitcoin reserve, but lets wait and see what will happen after Trump's administration starts working. Maybe the news about this BTC liquidation is one of the reasons for the current Bitcoin price to stay below the 95K USD level.

I think the US Government is selling their Bitcoin during the Biden administration with the aim of preventing Trump from profiting from the Bitcoins confiscated by the US. This is a normal thing in politics. They got Bitcoin during their time so it makes sense that they would want to sell it. But I still doubt whether the sale will actually happen. But it seems that the effect of the issue has kept Bitcoin at $92k-$95k. If the liquidation really happens I think there is a possibility that Bitcoin will crash and return to the $60k level. And the idea of making Bitcoin a strategic reserve I don't think it will happen anytime soon because if Trump makes Bitcoin a strategic reserve it seems that it will affect the US economy to become unstable because the price of Bitcoin is also quite volatile. -CMIIW

?

Activity: -

Merit: -

Quote from: o48o on January 10, 2025, 05:43:36 AM

I called them selling them all before Trump's inauguration. But i thought that's going to be via Biden's executive order.
And again, it's going to be good for bitcoin in the long run. Maybe not for the price, but trusting some reserves to pump the price isn't healthy growth at all. Using bitcoin reserves to inflate price, we are creating dependency of them staying instead of resilience.

What about getting rid of these Bitcoins and then getting some of them back with a better price?
Sounds like a deal for me Wink

Yaunfitda

hero member

Activity: 2870

Merit: 594

Quote from: o48o on January 10, 2025, 05:43:36 AM

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.
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?
-cut-

I called them selling them all before Trump's inauguration. But i thought that's going to be via Biden's executive order.
And again, it's going to be good for bitcoin in the long run. Maybe not for the price, but trusting some reserves to pump the price isn't healthy growth at all. Using bitcoin reserves to inflate price, we are creating dependency of them staying instead of resilience.

And with that, it's really politically motivated isn't it? I mean we have known Biden's anti-crypto's stance and so even in his last day, he will have this executive order to sell all the US Bitcoin at their custody to somewhat created a FUD and it's been effective as from as high as $102k, we go down hard again at $94k to $95k. This could be his last stance though as Trump will flip everything and make a U-turn. Although if you look at it, they haven't sold any yet. But let's see, he has few days remaining and so the DOJ base on the executive order could really hasten their offload of this BTC.

NotATether

legendary

Activity: 1568

Merit: 6660

bitcoincleanup.com / bitmixlist.org

All the muppets who said the USA would start a strategic bitcoin reserve, raise your hand.

kotajikikox

sr. member

Activity: 2632

Merit: 259

Quote from: NeuroticFish on January 09, 2025, 03:37:12 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?

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.

From other news outlets too all it says is that the court has now cleared USA's DOJ to sell their bitcoins. Words like greenlights and allows were also used. It does not mean DOJ must sell it nor they will sell it immediately. Being cleared to do this simply just means that the year long dispute is now taken care of and the DOJ can proceed to think about what to do with the seized bitcoins.

I am not too worried about this. We do not know if DOJ will actually sell it but if they do, it is just an opportunity for us to acquire more before Trump takes his seat and eventually adds bitcoin to their national reserve.

o48o

legendary

Activity: 3080

Merit: 1178

Leading Crypto Sports Betting & Casino Platform

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.
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?
-cut-

I called them selling them all before Trump's inauguration. But i thought that's going to be via Biden's executive order.
And again, it's going to be good for bitcoin in the long run. Maybe not for the price, but trusting some reserves to pump the price isn't healthy growth at all. Using bitcoin reserves to inflate price, we are creating dependency of them staying instead of resilience.

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: Mpamaegbu on January 10, 2025, 04:58:11 AM

I think the latter will be the case here since the US has the resolve to make Bitcoin her national reserve. There's no way all will be sold. However, even the small quantity sold, it has thrown the market into a great dump. Hopefully, we go up back to $100k before the swearing in of Mr Trump as I expect price to dump soon after his assumption of office.

No, the US has no determination or effort to use bitcoin as a national reserve, it is all just a statement by Trump during the election campaign and an idea of Senator Lummis. Everything is just a rumor and we don't have any more information about it but many of us deliberately exaggerated this rumor causing many people to misunderstand.

By the way, according to the news, the court has allowed DOJ to sell bitcoin but so far they have not sold any bitcoin. The market is just panicking on its own because of this news.

According to ARKM, all of DOJ's bitcoins are still intact, they haven't sold them yet but the market is reacting negatively and I don't think it's a good thing they haven't sold.

https://intel.arkm.com/explorer/address/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: NeuroticFish on January 09, 2025, 03:37:12 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?

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.

it might also just be a legal process, for instance. if the pardon of the silk road owner does go through, then the us gov having his BTC means that they need to give them back. so disposing of them before the pardon means there is nothing to return as it legally was spent whilst the crimes were still valid

it might be bidens teams last attempt to not let trump have his cake and eat it. if trump is to pardon silkroads (currently incarcerated) owner, biden might not want trump to also have his btc to do a deal with the guy or hand them back to the guy

john_egbert

member

Activity: 126

Merit: 11

Quote from: Mpamaegbu on January 10, 2025, 04:58:11 AM

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?

I think the latter will be the case here since the US has the resolve to make Bitcoin her national reserve. There's no way all will be sold. However, even the small quantity sold, it has thrown the market into a great dump. Hopefully, we go up back to $100k before the swearing in of Mr Trump as I expect price to dump soon after his assumption of office.

..Do they have a legal way to turn these coins into reserves?
If not - there is no point in thinking about it, simply because they won't do what the law doesn't dictate or allow.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

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.

I didn't see that news on time. Otherwise, I wouldn't have bought at $96k that I did two days or so ago. I would've waited a while for more drop because such was a huge fundamental. Anyway, buyers are eating up that fall and pushing price up back. It's currently sitting at $94k

Quote

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

I think the latter will be the case here since the US has the resolve to make Bitcoin her national reserve. There's no way all will be sold. However, even the small quantity sold, it has thrown the market into a great dump. Hopefully, we go up back to $100k before the swearing in of Mr Trump as I expect price to dump soon after his assumption of office.

asriloni

legendary

Activity: 3038

Merit: 1024

Leading Crypto Sports Betting & Casino Platform

Quote from: CryptoBuds on January 10, 2025, 03:45:43 AM

Quote from: AVE5 on January 10, 2025, 12:45:48 AM

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?

I don't think since the US government has decided the adoption of bitcoin for it Fed reserve and being the highest nation holding bitcoin, they would likely keep the recovered bitcoins that is worth $6.5 billion from the Silk and add up to their initial holding.
The vision of the US government as Donald Trump emerges office is to accumulate infinite number of bitcoins which these seized recovered funds maybe channeled over to the Fed reserve account of their bitcoins.
Knowing the friendly differences between Biden and Trump over bitcoin, we all we'd know how strong hold and supportive Trump had been over it speculative adoption to provide more to its values, I'd doubt if the DOJ attorney general would forward to sell them off because he'd be questioned to account what the funds was used for knowing the attorney general was Bidden's appointee to lead the DOJ.
So I think he might end up in jail by Trump if sold the recovered Silk bitcoins instead would be added to the already national reserve.

Although the DOJ has not sold any bitcoin to date, they have been given court permission to sell if they want, Trump or anyone else would not have the right to impeach the DOJ just because they sold bitcoin. Don't go crazy over Trump and think this will ruin the bitcoin reserve plan and we make such silly speculations.

I also supported Trump in the election and I also hope he will bring a breath of fresh air to the market but we should be realistic that he does not love and care about Bitcoin that much. He talked a lot about bitcoin, crypto during the election but mostly to win votes, he is not a big fan of bitcoin. Bitcoin Reserve? It's too early to talk about bitcoin reserves and if you want to, ask the Fed instead of Trump or any senator because they have no authority over national reserves.

DOJ already got a permission to sell BTC. Although, they have not yet sold it, they can do that anytime. What's the difference?

I'm only thinking this big sell is gonna give a huge impact to the trend that is happening now. It seems Biden wants to offload Bitcoin before he leaves his office soon. He's against Trump's plan.

6.9 billion is more than 10% of the total volume, it's a lot to be dumped to the market. I think the whales are already front running it to dump their bitcoin before DOJ does it.

CryptoBuds

legendary

Activity: 2100

Merit: 1042

HODL

Quote from: AVE5 on January 10, 2025, 12:45:48 AM

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?

I don't think since the US government has decided the adoption of bitcoin for it Fed reserve and being the highest nation holding bitcoin, they would likely keep the recovered bitcoins that is worth $6.5 billion from the Silk and add up to their initial holding.
The vision of the US government as Donald Trump emerges office is to accumulate infinite number of bitcoins which these seized recovered funds maybe channeled over to the Fed reserve account of their bitcoins.
Knowing the friendly differences between Biden and Trump over bitcoin, we all we'd know how strong hold and supportive Trump had been over it speculative adoption to provide more to its values, I'd doubt if the DOJ attorney general would forward to sell them off because he'd be questioned to account what the funds was used for knowing the attorney general was Bidden's appointee to lead the DOJ.
So I think he might end up in jail by Trump if sold the recovered Silk bitcoins instead would be added to the already national reserve.

Although the DOJ has not sold any bitcoin to date, they have been given court permission to sell if they want, Trump or anyone else would not have the right to impeach the DOJ just because they sold bitcoin. Don't go crazy over Trump and think this will ruin the bitcoin reserve plan and we make such silly speculations.

I also supported Trump in the election and I also hope he will bring a breath of fresh air to the market but we should be realistic that he does not love and care about Bitcoin that much. He talked a lot about bitcoin, crypto during the election but mostly to win votes, he is not a big fan of bitcoin. Bitcoin Reserve? It's too early to talk about bitcoin reserves and if you want to, ask the Fed instead of Trump or any senator because they have no authority over national reserves.

betswift

copper member

Activity: 280

Merit: 5

Quote from: Botnake on January 10, 2025, 02:11:37 AM

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.

There’s no clear law yet regarding holding Bitcoin as a reserve, so that’s still far from being a discussion.

The DOJ’s decisions can’t be influenced by politics. If they decide to sell, it’s like a command that has to be executed - no diversions or delays.

We also shouldn’t worry about this causing the market to bleed because the DOJ will ensure it’s not a one-time sell. They’ll likely time it well and sell it in portions to avoid disrupting the market.

If, at some point, all of these Bitcoins are sold and the government decides to pass a law recognizing Bitcoin as a legal reserve, that’s a whole different story. In that case, they could start purchasing Bitcoin again.

Agreed. They don't have much freedom in their decision-making - straight and to the point.
It's just how it works juridically and legally out there.

?

Activity: -

Merit: -

Just another head-up-their-ass move by the Biden administration.
I will agree that Saylor didn't just buy 1000 Bitcoin at 94k for nothing.
I'm going with him. Rather than government FUD/Silk Road BS,
Although it's the same. They FUD, and everybody gets scared and sells; meanwhile, the government selling BTC is a GOOD thing to me because we want less BTC in the hands of the government and more BTC in the hands of the people. HODL strong! ✊🏻
Moreover let's be observing !!!

davis196

hero member

Activity: 3234

Merit: 941

Quote

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.

Do you suggest, that the selling of six billion USD worth of Bitcoins would break the 4-year cycle of the BTC market?
I don't mind the USA selling seized Silk Road Bitcoins. This would push the BTC price down for a while, which presents an opportunity for the BTC investors to buy cheaper BTC before another bull run occurs. I'm still very skeptical about the idea of a US strategic Bitcoin reserve, but lets wait and see what will happen after Trump's administration starts working. Maybe the news about this BTC liquidation is one of the reasons for the current Bitcoin price to stay below the 95K USD level.

retreat

sr. member

Activity: 1260

Merit: 429

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

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

It seems more likely that they will sell all of their Bitcoin than use it as a reserve, simply because there has been no further discussion about making Bitcoin a reserve, and it doesn't seem likely to happen anytime soon. The Biden administration is ending in a few days, and that makes them want to do whatever they can to sell the remaining Bitcoin, to prevent the Trump administration from profiting from it. It sounds ridiculous, because Trump will eventually buy Bitcoin back anyway, but that's politics.

Botnake

hero member

Activity: 2856

Merit: 667

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.

There’s no clear law yet regarding holding Bitcoin as a reserve, so that’s still far from being a discussion.

The DOJ’s decisions can’t be influenced by politics. If they decide to sell, it’s like a command that has to be executed - no diversions or delays.

We also shouldn’t worry about this causing the market to bleed because the DOJ will ensure it’s not a one-time sell. They’ll likely time it well and sell it in portions to avoid disrupting the market.

If, at some point, all of these Bitcoins are sold and the government decides to pass a law recognizing Bitcoin as a legal reserve, that’s a whole different story. In that case, they could start purchasing Bitcoin again.

AVE5

full member

Activity: 448

Merit: 218

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?

I don't think since the US government has decided the adoption of bitcoin for it Fed reserve and being the highest nation holding bitcoin, they would likely keep the recovered bitcoins that is worth $6.5 billion from the Silk and add up to their initial holding.
The vision of the US government as Donald Trump emerges office is to accumulate infinite number of bitcoins which these seized recovered funds maybe channeled over to the Fed reserve account of their bitcoins.
Knowing the friendly differences between Biden and Trump over bitcoin, we all we'd know how strong hold and supportive Trump had been over it speculative adoption to provide more to its values, I'd doubt if the DOJ attorney general would forward to sell them off because he'd be questioned to account what the funds was used for knowing the attorney general was Bidden's appointee to lead the DOJ.
So I think he might end up in jail by Trump if sold the recovered Silk bitcoins instead would be added to the already national reserve.

?

Activity: -

Merit: -

Does other Governments across the world also hold BitCoins? I wonder Govt. Of India holds any reserves.
also Kingdom Of Bhutan also holds a lot of bitcoins.

headingnorth

member

Activity: 302

Merit: 46

If the Biden DOJ proceeds with the sale, the Trump administration can simply buy back the bitcoin at a lower price then they were sold or around the same price.
Even at a bit higher price, it is worth it to buy back the bitcoin.

Given that Trump is about to take office in just a few days, it would be dumb for the DOJ to sell at this time knowing Trump can simply buy back the bitcoin almost immediately at around the same price, by executive order. It would made more sense for them to dump the bitcoin months ago when the price was much different but now it doesn't make any sense given the current timeframe. Also makes them look bad because it can be seen as a purely political move just to spite Trump.

Smack That Ace

legendary

Activity: 2030

Merit: 1109

Free Free Palestine

Quote from: Alpha Marine on January 09, 2025, 03:59:34 PM

I don't think it changes much. Those coins would have been sold one way or the other because the issue has been in court for a while. The US has not even passed the bill to have a bitcoin reserve and I don't even think it will happen this year.
I think most people just get ahead of themselves that's why they talk like bitcoin reserve will happen very soon.

I agree with you, these bitcoins will be sold one way or another even if the bitcoin reserve bill passes. I don't know much about the US Constitution but I don't think US law would allow for the use of property seized from criminals as national reserves. Like the German government, they have to sell those bitcoins and can't hold them for too long because it's the country's constitution and can't be broken.

National Reserve: We are talking about constitutional change, a bill of a country, not a regulation of a company or organization. This is a very complex issue, but many people are naive to think that it can be easily changed with a single senator's proposal.
I don't even believe this bill would pass during Trump's term even if he really wanted to and pushed for this.

Quote from: Alpha Marine on January 09, 2025, 03:59:34 PM

I am still very optimistic about this year, not because of anything other thing but because of the 4 years cycle. I understand that there are more factors involved this time around, but all factors involved want profit too so I don't see how their involvement changes anything.

Although I am not bullish on bitcoin reserves, I am optimistic that the Trump administration will have a more open policy towards cryptocurrencies and that will be enough to fuel a bull market in 2025.

tbct_mt2

hero member

Activity: 2366

Merit: 838

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?

There are some activities that the current President and adminstration team are doing as most unfriendly things and barriers as possible for the President Elect in very last days of their administration. This one, liquidation of seized bitcoins from Silk Road can be one of these actions for their unfriendly plans.

If they want their plan to succeed, they will execute it before the President Elect Inaguaration Day. I believe probability for the liquidation is clear, because there is no doubt in my mind that they don't want to give Trump a good foundation to start his second Presidency within about one more week.

If they are not boosting the progress of liquidation, Trump will stop this plan and reverse it because he many times said his intention to reserve bitcoin for the USA and rather than liquidation these seized bitcoins, he will hold it for the nation and even accumulate more.

Asiska02

hero member

Activity: 1008

Merit: 702

Quote from: Amphenomenon on January 09, 2025, 04:25:51 PM

Quote from: NeuroticFish on January 09, 2025, 03:37:12 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?

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.

I still agree to this, I think it will depend on what Trump may decide on once he takes charge this January but either ways, they selling everything may likely be a bad idea but since we are still much having a bullish sentiments, it won't be felt much once Trump is on sit.

This is a more accurate description of why the market has been on a downtrend recently. This massive sell off they’re planing for will affect the market for a while even though the bullish market will take over after some time. What could have cause a lot of fear for this selling because of USA stance on bitcoin and now seeing that country they all wish will help strengthen bitcoin selling a large portion of them off, it’ll definitely create fear within the holders. Sooner we shall see what Trump’s policy will be and maybe if he’ll avert the sell of it once he’s sworn in as the president and kick off the bitcoin reserve as soon as possible.

PX-Z

legendary

Activity: 1554

Merit: 880

Wallet transaction notifier @txnNotifierBot

Now, if they sell this, probably exchanges who will wants buy this will offer a much lower price at least 20-30% less on the current price, but of course, since it's bidding from different exchanges so highly likely at they want to get much higher price. The reason why bitcoin price won't get affected. Or chances are Taylor with his Microstrategy will get it instead.

Amphenomenon

hero member

Activity: 770

Merit: 536

Hope Jeremiah 17vs7

Quote from: NeuroticFish on January 09, 2025, 03:37:12 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?

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.

I still agree to this, I think it will depend on what Trump may decide on once he takes charge this January but either ways, they selling everything may likely be a bad idea but since we are still much having a bullish sentiments, it won't be felt much once Trump is on sit.

?

Activity: -

Merit: -

Has anyone seen anything more substantial on this news?

From what I've researched, this isn't well sourced. However, the current drop could suggest it maybe underway.

Either way, a parting present for us all.

Alpha Marine

sr. member

Activity: 756

Merit: 356

I don't think it changes much. Those coins would have been sold one way or the other because the issue has been in court for a while. The US has not even passed the bill to have a bitcoin reserve and I don't even think it will happen this year.
I think most people just get ahead of themselves that's why they talk like bitcoin reserve will happen very soon.

I am still very optimistic about this year, not because of anything other thing but because of the 4 years cycle. I understand that there are more factors involved this time around, but all factors involved want profit too so I don't see how their involvement changes anything.

Z-tight

legendary

Activity: 1106

Merit: 1124

Wheel of Whales 🐳

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?

We don't know for sure, we don't even know if they are going to go ahead and sell this 69,370 BTC that was seized from the silk road after winning the case with Battle Born investment company. I believe we will get answers to these questions when Trump is sworn in, in about two weeks from now. If the U.S. BTC reserve becomes a reality, then these coins will be part of it.

coolcoinz

legendary

Activity: 2814

Merit: 1192

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.

I'm sure of it. If they'll do it 2 weeks before he takes office it's going to be one of their last great sabotages. They simply want to sell at a loss so that Trump later has to buy it back. They know that buying it back is going to be harder than simply moving it from one government agency to another.

On the other hand, I wouldn't be surprised if there were a few billionaires involved in that move. Just think about it. They know bitcoin is about to make a move up, if not this year than in 3 years. They know the US is going to keep printing, even if the FED says otherwise. Bitcoin is a great investment. If they could only spook the market and get it cheaper. Make it crash and bounce back, like it did numerous times before, for instance in 2021 to 30k and back to 70k.

fikrett

copper member

Activity: 126

Merit: 6

Quote from: Odusko on January 09, 2025, 03:44:03 PM

Quote from: fikrett on January 09, 2025, 03:32:58 PM

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?

Yeah just like every other fed around the world, they just take ownership of whatever proceeds of such crimes, and regardless of whether the government has the right to sell those seized Bitcoin or not what we are concerned about is the impact the sale will have on the price of Bitcoin in the short term bases, after all the government intends to open a reserve for Bitcoin I believe in the long run it will still bring us back to the same status quo, most times it just going to make all the noise in the news and we may likely not feel the impact of this sell on the market and I am a kind of tired of hearing government and the sink road thing, let them just offload all the seized Bitcoin at once so we get over this whole story with sink road.
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.

You did a bit of a typo there regarding the quoting. Awaiting your answer Wink

p.s. Good job. Never really got into the silk road stories, however - they were noisy for sure.

Odusko

hero member

Activity: 1134

Merit: 528

Leading Crypto Sports Betting & Casino Platform

Quote from: fikrett on January 09, 2025, 03:32:58 PM

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.

Yeah just like every other fed around the world, they just take ownership of whatever proceeds of such crimes, and regardless of whether the government has the right to sell those seized Bitcoin or not what we are concerned about is the impact the sale will have on the price of Bitcoin in the short term bases, after all the government intends to open a reserve for Bitcoin I believe in the long run it will still bring us back to the same status quo, most times it just going to make all the noise in the news and we may likely not feel the impact of this sell on the market and I am a kind of tired of hearing government and the silk road thing, let them just offload all the seized Bitcoin at once so we get over this whole story with silk road.

Faisal2202

hero member

Activity: 1428

Merit: 513

Payment Gateway Allows Recurring Payments

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

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

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.

fikrett

copper member

Activity: 126

Merit: 6

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

sr. member

Activity: 840

Merit: 437

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

hero member

Activity: 2786

Merit: 657

Want top-notch marketing for your project, Hire me

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?

Topic: The US govt to liquidate 69,000 BTC (Read 602 times)