Analysis: The market's concerns about the U.S. Department of Justice selling Bitcoin are exaggerated
The U.S. Department of Justice has been authorized to liquidate 69,370 BTC (worth about $6.5 billion) seized in the Silk Road case. According to Glassnode data, Trump has pledged not to sell the 187,236 BTC still held by the U.S. government. Most of these tokens held by the US government come from seizures on Bitfinex and Silk Road. Coindesk analyst James Van Straten suggests that market concerns about a selloff may be exaggerated as if these 69,370 bitcoins were indeed sold off, they would likely be sold in an orderly manner to get the best price possible. Meanwhile, the market was already aware that this could happen so this possibility might have already been digested by market expectations.(Coindesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analysis: Wall Street Is Not Yet Ready to Short AI in Large Numbers
Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
RootData: BIO will unlock tokens worth about $1 million in one week
Crypto prices
More
