Crypto Daily – (BTC) has run into a huge headwind, as the U.S. Justice Department recently received clearance to sell a massive chunk of around 69,000 $BTC, seized from the Silk Road marketplace. What will the potential impact be of such a large sale?
An even bigger amount of BTC than the German government sold
As the Biden administration prepares to leave office, with new president-in-waiting Donald Trump due to be inaugurated on 20 January, an enormous parting shot at crypto may be in the process of taking place.
The Department of Justice has recently been given clearance to sell a gargantuan parcel of around 69,370 BTC, which at today’s prices is equivalent to around $6.48 billion. This is an even bigger amount than the 50,000 BTC that the German government sold in June and July of 2024.
However, it’s not expected that the DOJ will sanction a sell off in the same manner as the German Government, which dumped big chunks of BTC directly onto the market,…
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