Post
Topic
Board Bitcoin Discussion
Re: Feds transferred BTC from seized Silk road wallet to Coinbase
by
SamReomo
on 06/04/2024, 02:27:10 UTC
I have gone through it and what came to my mind is somewhat strange. I believe feds and US government don't really need to sell their holdings directly to the public or via exchanges because these days there are so many investment companies that are willing to accumulate Bitcoin and if feds get a good quote from those companies then they can sell the seize Bitcoin without casing any dip to the market.

94,600 Bitcoin still means a lot and if all of those are sold at market rates then the price of Bitcoin can dump a lot for short term. The 94,600 Bitcoin may not dump it that much but the sell orders from bots may dump it even further. That will also be a good thing for the exchanges as they'll make a lot of money due to liquidations.