#US government to sell 6.5 billion Bitcoin#
Hot Topic Overview
Overview
The U.S. government currently holds $6.5 billion worth of Bitcoin, but the sale of these Bitcoins requires a rigorous process, including court approval, civil forfeiture application hearings, and other lengthy procedures. According to professionals, the U.S. government will not sell these Bitcoins immediately but will follow normal government procedures, eventually entering the public domain through the U.S. Marshal Service. Furthermore, the possibility of these Bitcoins being deposited into a potential Bitcoin strategic reserve is also low.
Ace Hot Topic Analysis
Analysis
The U.S. government holds $6.5 billion worth of Bitcoin, which was recently ordered to be civilly forfeited by a court. However, this doesn’t mean the U.S. government will be selling it immediately. According to experts, the sale of these Bitcoins would need to follow a rigorous process, including a civil forfeiture hearing. Once approved, it would then enter the normal marshal’s process and be released to the public. Therefore, the U.S. government selling these Bitcoins will take some time, and it’s unlikely they will be added to a potential Bitcoin strategic reserve.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The US government's sale of $6.5 billion in Bitcoin requires a strict process with many steps.
The sale requires a civil forfeiture application hearing and approval before it can enter the marshal's procedure and the public domain.
The US government will not sell the Bitcoin immediately, and must follow normal government procedures.
It is unlikely that these Bitcoins will be transferred to a potential Bitcoin strategic reserve.