Bitcoin

Dark

Silk Road

Million

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/us-government-to-sell-130-million-worth-of-bitcoin-from-silk-road-case" rel="noopener noreferrer nofollow">US Government to Sell $130 Million Worth of Bitcoin from Silk Road Case</a> 
Despite Bitcoin’s attempts to surpass $40,000, recent news may hinder its progress. The cryptocurrency market has been under pressure due to several events. Although concerns regarding <a href="https://en.bitcoinhaber.net/tether-takes-an-active-role-in-combating-criminal-activities" rel="noopener noreferrer nofollow">Tether</a> and Binance have largely subsided, the pressure from MTGOX and the Silk Road case persists.
MTGOX has started sending notifications to creditors this week, while the US government announced that it will auction off $130 million worth of Bitcoin seized during the Silk Road operation. The announcement is a call for potential claimants to come forward. If no claims are made, the sale is expected to happen within two months.
It is unlikely that claims will be made on the Silk Road assets since they were seized during a Dark Web operation. Therefore, the US is anticipated to proceed with the sale before April. Although the amount could negatively impact the market in the short term, it is relatively small compared to the redemptions of GBTC, suggesting that investors should not panic.
The main concern is whether the US will decide to sell other Bitcoin holdings (worth billions of dollars) this quarter. Additionally, the expected completion of the MTGOX distribution by the end of the year will exert billion-dollar pressure on the market.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/us-government-to-sell-130-million-worth-of-bitcoin-from-silk-road-case" rel="noopener noreferrer nofollow">US Government to Sell $130 Million Worth of Bitcoin from Silk Road Case</a></h5>

US Government to Sell $130 Million Worth of Bitcoin from Silk Road Case

BH NEWS

Other articles published on Jan 25, 2024

7 Best P2P Crypto Exchanges in 2024

Bitget Wallet Takes Center Stage at Future Fest 2024, Unveiling the Future of Web3 in Pakistan (2...

3 cryptos to buy for easy 20x gains

Market Surges with Bitcoin Hovering Above $40K, Altcoins Vary

Shiba Inu: AI Predicts SHIB Price For Jan 31, 2024

$BTC Bounces Back to $40K as $GFOX Price Skyrockets 200%

Join our free newsletter for daily crypto updates!