They will sell it today or tomorrow. Unless they sell it at once, the market shouldn't react much. Because Bitcoin already pumped a lot and due to their sale, it won't be a be a massive dump. But if they decide to sell everything at once, then we may see a massive dump. Its just not for sale, but it will create a FUD, and investors will panic. I hope institutional investors will back massive sales. They are constantly accumulating Bitcoin, even at its high price. So buy-in demand is pretty high right now. Unless traders panic, Feds won't dump the bitcoin for selling it.
I think there is a reason why they can't sell it on one big blow and that's why they're doing it in batches. But whether they continue these sell batches, the institutions are always prepared to catch them all.
If they gonna dump this huge amount of bitcoins, then surely the price will drastically drop and that will create a huge chance for anyone who is waiting for the price to get lower and wants to invest to join the potential bull run after bitcoin halving this year.
As many have said in the first page, the amount might affect a bit but it's not that big to affect entirely.
Did they get those bitcoins after they caught the criminals or did they somehow find a way to recover it from them without any interactions? If this is how good they are, then the hackers are no longer a threat to most of us and we can now easily ensure that we can keep our bitcoins more securely than ever before.
Not sure with that but with interrogations and confiscation, it's likely that they've taken it after the criminals have been caught. But if it's about hackers, they are multiplying as well and the breeding of them never stops.
Bitcoin is classified as a commodity and not a security, it must be allocated just as goods are disposed of by displaying them in an open auction and giving the opportunity to anyone who wants to buy according to the auction price. why did the government decide to sell them directly by creating an account in Coinbase, and why now, and why not all seized?
I think there is a condition that they're following as protocol, well this is just my wild guess that they can't sell it all at once because if they can then surely they've done it already. But I agree that they've done auctions before so why not do the same as with this batch.
The US government is always doing this kind of speculation and trying to regulate the market. The government usually sells gradually and I don't think it affects the market much. I don't think it's in the government's interest that the market is in a downturn, but they are always ready to sell bitcoin at any time and under any circumstances. Usually, when the market is in a negative mood, this news comes out and they try to deepen the decline in Bitcoin. But they are wrong, and Bitcoin is always capable of defeating speculation. Bitcoin is also a finite asset and although it is subject to negative speculation, time always works in Bitcoin's favor.
Yeah, as said by someone here. They've sold before and that's not even in the bull run, so, they'll just do what they have to do if it should be dumped at any rate and time that they can. But as also mentioned and questioned by many here, why they can't sell it in one major sell so, there's something that stops them. And if there's a certain purpose to move markets with such news, we're in a bull run and any negative news is going to affect it but it's not that hurting that much anymore.
Considering how much and how fast the price is rising, even hundreds of millions of dollars won't make a significant difference. Still, I think it's better to auction seized funds from illegal operations instead of dumping them on exchanges. Auctions can start around market price but actually push the price up, with some people having a desire to have those specific coins. I know it goes against fungibility of Bitcoin, but it could be better both for the price and for the US government: the price wouldn't be affected, and the US government would get more funds.
Well, whichever is the method of them for disposing these seized Bitcoins or even with other stuff like paintings, the US government is always on a win with this. They actually don't have to find buyers as there will always be interested people and party willing to purchase all of those and the same goes with the auction.
Reportedly, US government owns approximately 94,600 Bitcoins. So I see the recent transfer of 2,000 Bitcoins as a test transfer before they actually try to sell the majority of their holding. The current value of these 2000 bitcoins is approximately 140 million. While it's a huge amount of money, I don't see a great impact in the market and on the price. The current market cap of bitcoin is 1.39 trillion. So it's just 0.01% of the Bitcoin's market cap. The market can gulp this 140 million bitcoins and no one would know. I don't foresee any sustained price dump to be honest. But I will be happy if I am proven wrong so that I can score some more bitcoins at a lower price.
You're right and just as what the others have said not impacting the market a lot but with people's fear and sentiment, this kind of sell off do affect much with the help of the media.
This is the HODLing. Fed is a good Hodler. By the way, I have a good question, did Coinbase asked FED to upload KYC documents and prove the source of their funds? I think that Coinbase should seize those coins because those are coins collected on darknet, so, they should really seize it but since it's Fed and the government is involved, every kind of illegal money is okay for them to exchange and sell on people.
If anything, those coins should be burnt, not exchanged!
Good question but Coinbase can't do that if you're the government. There's a blessing from the federal government and anything they wanna do will surely have a permission so, possible that the name goes with the KYC as "FED" and Coinbase can't question that whether those coins are tainted because they're seized. They're a registered business and trademark so they're just under the powers of the government and will obey what they wanna do with them.
