#The US government's 6.5 billion Bitcoin sale process is rigorous.#
Hot Topic Overview
Overview
The U.S. government currently holds $6.5 billion worth of Bitcoin, but selling these Bitcoins requires a strict process. Professionals reveal that the selling process involves multiple steps, including court approval, a civil forfeiture application hearing, and marshal procedures, and cannot be conducted immediately. In addition, the possibility of these Bitcoins being transferred to a potential Bitcoin strategic reserve is also low.
Ace Hot Topic Analysis
Analysis
The U.S. government currently holds $6.5 billion worth of Bitcoin, but the process of selling it will be extremely strict and will not happen immediately. According to Aidan Larkin, of Asset Reality, the U.S. company that helps the government manage seized assets, the court approval is just a normal process for civil forfeiture and does not mean the U.S. will sell immediately. Sales must follow a strict process, including a civil forfeiture application hearing, marshal proceedings, and public auctions. Additionally, the possibility of these Bitcoins being funneled into a potential Bitcoin strategic reserve is also slim.
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, including court approval and hearings on civil forfeiture applications.
The sale process must follow normal government procedures, including marshal procedures and public domain auctions.
The US government will not immediately sell the bitcoin, but will do so gradually in accordance with the procedures.
It is unlikely that these bitcoins will be deposited into a potential bitcoin strategic reserve.