With the data above, I think the US Gov only have 67K BTC left after deducting the 94,643 BTC owned by Bitfinex.
My question now is, why dont they just sell it all at once? or maybe they are still waiting for the BTC price to hit $100K? lol.
Because they probably can't, just as the institutions can't sell them all at once is because not all of these exchanges have plain cash ready and they're just like middlemen of most traders and investors globally. But possible, they're going to do the next batches when BTC hits $100k or more.
Yeah, they liquidated those coins in batches. It might not have been out of care for the market; it could have simply been their desire to maximize the proceeds, or simply to stay inconspicuous. But they're not necessarily hiding all these things. After all, they will still file reports as to these activities. And these documents are probably not confidential at all.
So, I'm not at all bothered by this $131 million that would hit the market anytime soon.
Right, they can't hide these activities as it will look questionable and all of these sell offs were done publicly and sure that in the future when they do the next batches, they'd do a report and might take the media on a next level to do some manipulations that will be not only in their favor but with the other big players.
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.
It's possible that there could some ruling that they have to follow and standard procedure if the btc's are seized as they can't just sell it on an institution directly and that's why there were auctions. But yeah, why didn't they do an auction for this one or they've just chosen the quicker path and quick cash going onto their hands.
I am just surprised they haven’t sold these holdings earlier. When was the last time they sold? About a year ago. Price went higher, why didn’t they sell more.
Why didn’t they sell everything during the 2014, 2017 and 2021 bitcoin bull markets. Very strange that they kept them all these years while the trial ended a long time ago.
That makes sense but who knows if the feds or whoever is on the higher ups of his/her position there understands truly the concept of Bitcoin as a volatile asset and a store of value and that's affecting their decision as consensus when and whether to sell or not.
That's good, it is actually in a place that can be trusted instead of just their own whatever storage that we didn't know.
As much as they can hold vast of it, they can also hold it on their own with their trust and confidence but this is all big money that was seized and value keeps on increasing from the time they've seized it but possibly, they just choose not to hold them anymore and let Coinbase do all the job for keeping them as they've sold it to them, preparing for the bull I guess.
Yeah there is nothing to worry about that. As far as I know, they have announced it in the past that they are going to sell the seized Bitcoins in portions within a certain period, and it's probably one of the portions they are going to sell as they did in the past, and we haven't seen much of an effect on the price in the past as well.
They are also not going to dump all the coins they hold at once because they aren't doing this for money last time when they sold a portion of the coins, the price of Bitcoin was pretty low, and if they were doing it only for the money and profits, they could wait for the price to go up and then could sell the coins.
Neither this, nor any of their selling in the future will affect the price or the market in any way, besides, there are more Bitcoins bought and sold than that amount of a daily basis, so I don't think this will have any significance in front of that.
I didn't know that, that they've mentioned it that they're going to sell it but if they've announced it. Some probably have taken that advantage as a signal upon selling it to Coinbase on exact date that they've announced it. So this kind of disposal that the feds are doing are plainly just for disposal but I doubt it that they're not doing it for profits. Because whether they sell now or earlier, they're still in profit as the btc's seized were just freely taken by them.