US Government Moves $2 Billion in Silk Road Bitcoin

[yhiaali3]

They are probably going to sell it at an auction as they regularly do, as decided by law. However, if truly they want to sell all BTC's before Trump gets into office, if he wins, then they have to start selling massively now, because they hold a lot of coins, and who know what it will do to the price of BTC.

Yes, that's right, I hope they don't intend to sell these large quantities because it will definitely lead to further decline in the market, I hope the transfer is for security reasons or just routine procedures.

So far they haven't sold and this is a good sign, personally I hope the US government adopts Trump's position in keeping the Bitcoin it owns as a strategic reserve like gold because this will strengthen the position of Bitcoin.

[MrSpasybo]

Yes, that's right, I hope they don't intend to sell these large quantities because it will definitely lead to further decline in the market, I hope the transfer is for security reasons or just routine procedures.

So far they haven't sold and this is a good sign, personally I hope the US government adopts Trump's position in keeping the Bitcoin it owns as a strategic reserve like gold because this will strengthen the position of Bitcoin.

Currently, BTC price has dropped to $52K due to the negative market sentiment. I dare not imagine a scenario where the US government announces its intention to liquidate a large portion or all of the BTC seized from criminals. This could significantly damage Trump's reputation and, more importantly, cause a severe crash in the crypto market, requiring a long time to recover and grow.

What Trump says is indeed very attractive. If Trump wins the election and the US BTC reserves are still large at that time, we will see a strong growth in BTC price and the crypto market by the end of this year as FOMO takes over the market due to the belief in the most powerful man in the world.

[Z-tight]

So far they haven't sold and this is a good sign, personally I hope the US government adopts Trump's position in keeping the Bitcoin it owns as a strategic reserve like gold because this will strengthen the position of Bitcoin.

I don't know if the U.S can hold BTC as a strategic reserve, i know Trump said that in his speech at the BTC conference and it has also been proposed by senator Cynthia Lummis, however, i don't believe the U.S will do that, neither will the Feds agree, even if Donald Trump wins.

Some bitcoiners are even opposed to the proposal, never mind if it comes to fruition or not, and the question has been raised if it is good for governments to store a lot of BTC's?

[yhiaali3]

Currently, BTC price has dropped to $52K due to the negative market sentiment. I dare not imagine a scenario where the US government announces its intention to liquidate a large portion or all of the BTC seized from criminals. This could significantly damage Trump's reputation and, more importantly, cause a severe crash in the crypto market, requiring a long time to recover and grow.

Fortunately Bitcoin has now risen a bit to 54K after almost dropping to around 50K in the biggest drop during the last rally, I don't know what the real reasons behind this big correction are but it's good that it only lasted for a short period.

As you mentioned if the US government decides to sell the confiscated Bitcoin at this bearish time it will be a huge blow to Bitcoin and it will drop much more and it will take longer to recover, let's hope they don't sell.

[Freemind]

I don't believe politicians and i have so many reasons not to believe them. I see it that so many people now believe that Donald Trump will be a 'crypto president', but we cannot be sure of that, and from where i see it, he is just using BTC to campaign and i don't want that for BTC.

I don't think it's about believing what politicians say, we are not children, we know that they would be capable of saying anything to get more votes. And Trump will not be any "crypto president" no matter how much he now says that Bitcoin is the best invention in the world. Trump makes these statements because he knows that the dollar will collapse soon and the debt his country has is enormous. Bitcoin and other cryptocurrencies, those recently repudiated, may now be the saviors of the coming disaster.

I hope that investors and the market know how to handle this situation and are smarter than the decisions and plans that Trump may have if he wins the elections.

[Captain Corporate]

When it says "moved", its knowingly doing that to make sure that there is panic in the markets. First of all, 2 billion is nothing in the crypto market and doesn't really do anything at all, its very normal. And also we need to realize that we are not going to make anything changing anytime soon, just because they moved it, they did not sell it, they just moved it. We need to realize that news are using certain words to put emotions into readers, and that move is making it sound like it was sold, and it was not. Its just moved, meaning that they still have the coins and they will hold it for the time being as well. No worries.

[NotATether]

Before they can sell any of this bitcoin, they need to buy a buyer for it.

I am not sure there is any exchange or OTC broker with $2 billion in cash in order to buy that amount of Bitcoin at this time, except for maybe Blackrock and possibly Coinbase.

As the prices inevitably go higher, then the dollar amount that the exchanges will have to stamp up will become even higher and price out more brokers.