US GOV Readies Itself to Unleash $4.33B in BTC on Crypto Market
- The US Supreme Court declined to review a case involving 69,370 Bitcoin (worth around US$4.38B), seized by the government from the Silk Road marketplace.
- The US government may now proceed with selling the seized Bitcoin, potentially impacting the market with abrupt sell-offs.
- Historically, large government Bitcoin sales have caused instability in the crypto market, with similar sell-offs by the German government pushing BTC prices below US$60K in mid-2024.
Just when it feels like things are picking back up again, governments just have to take all the fun away. This time, it’s the US government’s turn.
The United States Supreme Court has declined to review a case involving the ownership of 69,370…
