#US government to sell 6.5 billion bitcoins#
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 marshal procedures. Therefore, the U.S. government will not sell these Bitcoins immediately, and it is unlikely that they will be deposited into a potential Bitcoin strategic reserve.
Ace Hot Topic Analysis
Analysis
The U.S. government holds $6.5 billion worth of Bitcoin, and a recent court ruling has authorized its sale. However, industry experts point out that this does not mean the government will immediately sell these Bitcoins. The sale process must adhere to strict procedures, including a civil forfeiture hearing. Only after obtaining approval can the process move forward to the U.S. Marshals Service and enter the public domain. Aidan Larkin of Asset Reality emphasizes that selling Bitcoin involves multiple steps and a complex process, not simply pressing a "sell" button. Furthermore, he believes the likelihood of these Bitcoins being included in a potential Bitcoin strategic reserve is low, so don't hold your breath.
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 rigorous process with multiple steps.
Selling Bitcoin requires court approval and a civil forfeiture application hearing.
Selling Bitcoin needs to follow the Marshal's procedures and enter the public domain.
It is unlikely that these Bitcoins will be transferred to a potential Bitcoin strategic reserve.