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The US government plans to sell more, about 41k BTC ~ +$1 Billions

Key Takeaways:

+ 9800 BTC sold for $217 millions from Silk Road seizure

+ 41.5k BTC will be sold in 4 trenches

+ Liquidations from Coinbase with the assistance of a professional trading firm

Mar14 The US government plans
Sold on March 14

The date it is sold, we saw a correction at the top of the rally to $25k and this means that the US Government might have hired a professional trading firm to liquidate its positions of the seized Bitcoin from Silk Road. It is obvious that selling at the top is not easy and they did it; however the momentum of the market is $30k and above so we will see the future impact of more liquidations from Coinbase since that is the only trusted exchange by the Americans.

According to on-chain data

So based on the Court Filing we will see this type of liquidations 4 more times in the coming weeks and months and potentially at the top of each rally!

IRS Official Says
“You basically get in line to auction it off. We don’t ever want to flood the market with a tremendous amount, which then could have an effect on the pricing component,”

And don’t forget Mt. Gox from April 11th to Oct 31st as they settle payments to creditors as one of the largest Bitcoin Holder ($1B+)!

Large Bitcoin Holders
Large Bitcoin Holders

And here is the timeline of the potential selloffs in the coming months

irs The US government plans


Editor in Chief