The US governme plans to sell some of the confiscated bitcoins this year. Given that there is a possibility of a sharp drop in the price of Bitcoin these days, knowing when to sell can be very importa.
According to BINCrypto, the possibility of selling bitcoins confiscated by the US governme on certain days this year could increase the selling pressure of this digital currency.
Note the dates; There is a possibility that the price of Bitcoin will fall
The US governme has repeatedly seized Bitcoins from criminal organizations over the years. It is now clear that the US plans to sell these bitcoins in four separate rounds this year.
According to the documes published in the first round, the United States governme sold nearly 10,000 bitcoins worth about 215 million dollars on March 14 (March 23). On that day, we saw a significa drop in the price of Bitcoin.
The US governme plans to release a total of 41,500 bitcoins this year.
Maartunn, an analyst and official writer at CryptoQua, shared in a note the exact date of the sale of the remaining four tranches:
- May 26 (June 5)
- August 7 (August 16)
- October 19 (October 27)
- December 30
Note these dates in your calendar; Because the market can fluctuate more these days.
In November last year, US authorities seized more than 50,000 bitcoins from James Zhong. The scammer stole these bitcoins from Silk Road, an illegal online marketplace, in 2012.
The US governme is itself a digital currency whale
The 41,000 bitcoins seized by the US governme are not all of the coury’s currency assets.
In rece years, the governme has repeatedly confiscated Bitcoins from criminals. In addition to Zhong’s 50,000 bitcoins, authorities seized more than 160,000 other bitcoins.
As a result, according to available data, the US governme currely holds about 200,000 Bitcoins.
Considering the curre price of Bitcoin at $28,850, the total value of these assets reaches about $6 billion.
