Post
Topic
Board Economics
Topic OP
Silkroad seized bitcoins to impact price?
by
binks1
on 13/06/2014, 05:59:33 UTC
Hi,

I tried in trading section but it seems I should have asked here.

It is claimed briefly in this Bloomberg note that this morning price fell because of USGov selling seized bitcoins from Silkroad - but why would price fell 10% because of this announcement - what's logic applies? huh

"The U.S. government plans to start selling one of the largest caches of bitcoins, which it seized from the Silk Road marketplace used for buying and selling drugs. The virtual currency’s price fell."

http://www.bloomberg.com/news/2014-06-12/bitcoins-seized-from-silk-road-to-be-auctioned.html