#US government's $6.5 billion Bitcoin sale process is strict#
Hot Topic Overview
Overview
The U.S. government currently holds $6.5 billion worth of Bitcoin, but the process for selling it will be rigorous. Experts say these Bitcoins will need to go through a series of procedures, including court approval, civil forfeiture application hearings, and ultimately a marshal's process and public auction. This means the U.S. government won't be selling these Bitcoins immediately, and it's unlikely they'll be channeled into a potential Bitcoin strategic reserve.
Ace Hot Topic Analysis
Analysis
The U.S. government holds $6.5 billion worth of Bitcoin, but its selling process will be very strict. Aidan Larkin, of Asset Reality, a U.S. company that helps the government manage seized assets, said that recent court approval is simply a normal procedure for any civil forfeiture, and does not mean the U.S. will immediately sell the Bitcoin. The sale must follow a strict process, including a civil forfeiture application hearing, after which it will be allowed to enter the U.S. Marshals Service and public domain. Additionally, don’t hold your breath about the Bitcoin being moved into 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 needs to go through a rigorous process, including court approval, hearings for civil forfeiture applications, and more.
The sale process needs to follow normal government procedures and go through the marshal's process and public domain.
The US government will not immediately sell the Bitcoin and instead needs to go through a series of processes.
These Bitcoins are unlikely to be transferred to a potential Bitcoin strategic reserve.