The united State Government is about to release $39m bitcoin worth for auction to individual who win the bid. According to the news; these bitcoin were the ones seized from cryptocurrencies scammers around the industry and with those who were indicated of fraud. Here is my concern:
What you don't like, you don't need to eat.
Another concern; will this going to bring down the current bullish of Bitcoin if executed?
I would suggest that, they redistribute this Bitcoin to the community or to help the less privilege. This can also be use to support China against the fight of CoronaVirus.
The USMS will notify the winning bidder(s) via email with instructions for the next step to complete their transaction the same day as the auction, even after 5:00 PM EST. The winning bidder must send the purchase price funds (less the deposit amount) by a wire transfer originating from a bank located within the United States and provide a wire transmittal receipt to the USMS by 2:00 PM EST, on Wednesday, February 19, 2020.
Full article is here! Let's just hope that the bidders will not bid so high to these bitcoins so the price of bitcoin in the market will not collapse as it is a huge amount of money and can surely affect the market if it will be dumped.
If the winner will win the bid for example @18k then we are currently safe as of now as the bidder will surely hold the bitcoin and sell it once he/she/they can profit to it. And hoping that the winner of the bid are good investors like the big whales out there who knows how to play and ride the crypto market.