#The US government's sale of 6.5 billion bitcoins requires strict procedures.#
Hot Topic Overview
Overview
The U.S. government currently holds $6.5 billion worth of Bitcoin, but selling it would require a rigorous process. According to professionals, the sale would require court approval, a civil forfeiture application hearing, and eventually move into the U.S. Marshal Service and the public domain. This implies that the U.S. government will not sell these Bitcoins immediately, and it is also unlikely that they will be incorporated into strategic reserves.
Ace Hot Topic Analysis
Analysis
The US government holds $6.5 billion worth of Bitcoin, but selling it requires a rigorous process. Aidan Larkin of Asset Reality says that the recent court approval is simply a standard part of any civil forfeiture, and doesn’t mean the US government will sell it immediately. The sale would need to follow a strict process, including civil forfeiture application hearings, before it could enter the normal Marshal’s program and the public domain. Moreover, it is unlikely that these Bitcoins will be pooled into a potential Bitcoin strategic reserve. This means that the US government will need some time to sell these Bitcoins, and it will need to go through a series of legal procedures.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The US government's sale of $6.5 billion in Bitcoin will require a rigorous process, including court approval and hearings on civil forfeiture applications.
The sale process is complex and will not happen immediately, it will need to go through the normal government and US Marshal procedures.
It is unlikely that these bitcoins will be transferred to a potential Bitcoin strategic reserve.
Asset Reality believes that the US government will not sell these Bitcoins immediately, but will follow a rigorous process to handle them.