The Department of Justice (DOJ) may have the authority to liquidate 69,370 BTC ($6.5 billion) seized from the Silk Road marketplace, according to unconfirmed reports. However, fears of a sell-off causing a market crash may be overblown. The market has already taken into account the possibility of these coins being sold, and the market has absorbed over 1 million bitcoin since September. Additionally, previous data from the German government selling a similar amount of bitcoin shows that the market can handle such a sale without significant impact.
- Content Editor ( coindesk.com )
- 2025-01-09
Market Fears of Potential Selling Pressure From Possible Silk Road Sale is Overblown: Van Straten