Crypto Daily – The tug of war over the price continues. Large whales have accumulated strongly over recent days, while the US government has won the right in court to sell 69,000 $BTC, forfeited by one individual in the Silk Road case.
Game theory in play
Could the Bitcoin price be relatively flat because the market is waiting to see what will happen with the 69k in seized Silk Road $BTC? It’s not known if the US government will in fact sell this very sizable haul, but what is known is that a court has granted the government the right to sell the 69k $BTC if it should so wish.
The US government is currently the biggest sovereign holder of Bitcoin, with 203,239 $BTC. If the government does decide to sell, it would take it below China in the ranking of countries owning Bitcoin – and with game theory potentially about to become hugely significant, such a move could end up being a massive own goal for the US.
New whales enter and buy rapidly
On…
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