US Government DUMPING Bitcoin

[SquallLeonhart]

Probably 99% of the hodlers would have loved to see them destroyed rather than auctioned, recognition and laws and regulations are only appreciated when they cause a pump, not when it might have an adversary effect.

Those who are only there for profit would not mind if as much BTC was "destroyed" as possible so that their coins would be worth more, but that is the reality we live in. However, I do not see why such sales would have any effect on the price considering that we are in the recovery phase and that the market will absorb these coins very easily.

The world is full of confused people, OP is just one of them who thinks that a few thousand BTC can change something important in a market where hundreds of thousands of BTC are traded every day.

I think a lot of bitcoin is "destroyed" anyway, so it's really not a big deal for people because over a million of it gone anyway. That's the upcoming doom of bitcoin if you ask me, way too much of it is gone, and there is the reality that some of it keeps going away to a place that is unreachable as well, or so called "burned" as well sometimes.

This means since there is a one way ticket to burning not coming back, we could have very little left one day in the distant future which could pose a threat to it. I am not saying it's a good thing or a bad thing, but it's the reality and that's a fear that I have as well. I am not sure how that could be solved though.

[Wong Gendheng]

Many people think that when there is a person or a company that stores large amounts of bitcoin, it will control the market, the same thing happens with several countries that store bitcoin like the USA government, and last month they sell Bitcoin with a total of around 9800, and that is not too influential in the market.

[indah rezqi]

Many people think that when there is a person or a company that stores large amounts of bitcoin, it will control the market, the same thing happens with several countries that store bitcoin like the USA government, and last month they sell Bitcoin with a total of around 9800, and that is not too influential in the market.

Somehow, the government will always auction off anything confiscated in some cases including bitcoin.
This happens for any assets they seize, so I don't think that's new to hear. Meanwhile selling bitcoin is not considered the right move considering they could have made more money if they sold $50k or $60k then, so if they did it during March they are not selling at the right time.

I might agree that the sell-off wouldn't have had much of an impact on the market, but in this case, bitcoin hard to penetrate $30k in March. Some people are worried about the way they are selling those bitcoins while I think they are just planning to keep a lot of people from buying during the bank collapse and that is a precautionary measure which too creating FUD.

[justdimin]

I think a lot of bitcoin is "destroyed" anyway, so it's really not a big deal for people because over a million of it gone anyway. That's the upcoming doom of bitcoin if you ask me, way too much of it is gone, and there is the reality that some of it keeps going away to a place that is unreachable as well, or so called "burned" as well sometimes.

This means since there is a one way ticket to burning not coming back, we could have very little left one day in the distant future which could pose a threat to it. I am not saying it's a good thing or a bad thing, but it's the reality and that's a fear that I have as well. I am not sure how that could be solved though.

I would have agreed but the more it's gone, the more valuable remainder ones are, even if it's not gone but just not in the market anymore, that's a good thing. I do not think that we are ever going to have a situation where only a few million left, we will always have 10+ million of it on peoples wallets, or more likely exchanges, but that doesn't mean that it will be less valuable or anything bad for us, the less we have it, the more value it has and that's a good thing.

There is no need for any reversal, let them go and be "destroyed", it will give yours more value and do not worry that all of it will be gone one day, that's not going to happen.

[Mame89]

Many people think that when there is a person or a company that stores large amounts of bitcoin, it will control the market, the same thing happens with several countries that store bitcoin like the USA government, and last month they sell Bitcoin with a total of around 9800, and that is not too influential in the market.

I've read the news, it turns out that America is selling it by auction and they are also selling it in stages. Those who have just sold the first stage, there are still 3 more stages and the date has not been set, only they know, on March 14 they will already carry out the first stage of sale. So I don't think it will affect the crypto market, it has been proven that until now the bitcoin price has not dropped significantly.

[darkangel11]

Many people think that when there is a person or a company that stores large amounts of bitcoin, it will control the market, the same thing happens with several countries that store bitcoin like the USA government, and last month they sell Bitcoin with a total of around 9800, and that is not too influential in the market.

I've read the news, it turns out that America is selling it by auction and they are also selling it in stages. Those who have just sold the first stage, there are still 3 more stages and the date has not been set, only they know, on March 14 they will already carry out the first stage of sale. So I don't think it will affect the crypto market, it has been proven that until now the bitcoin price has not dropped significantly.

The price doesn't have to drop for the market to be affected. Selling can stop the ongoing trend or prevent a trend from continuing, or slow it down. It's possible that without government intervention we would have broken the resistance at 30k by now.
I don't know how much of the selling is done on auction and how much (if any) is being dumped on the market. I assume the US government has no interest in this rally and would stop the bear market from happening if it could, so they won't try to sell slow. They will do what they want and if the order is to dump everything at the loss, they will do it without hesitation, knowing that many investors will lose money thanks to them. The government doesn't care about you and it will not try to protect you in any way. All I can say is they will fight the inevitable bull market but they won't be able to stop it. If it doesn't happen this year it's going to be the next, or the next. Eventually, bitcoin will reach a new high and fiat money will reach a new purchasing power low. It's math.

[yhiaali3]

Well, I do not think that this will have a significant impact on Bitcoin, especially since they decided to sell the confiscated amounts of Bitcoin in four stages throughout the year. I do not know why they made such a decision even though they claim that they do not care about Bitcoin, but it is a wise decision anyway.

Honestly, this decision raises my doubts, if the US only cares about confiscating Bitcoin but doesn't really care about the collapse of the Bitcoin price, why did they decide to sell in four stages? This question really confused me.