US govt has been selling seized bitcoin for years. Last time this fud hit was March 2023 when they sold 9861 bitcoin via Coinbase.. look what happened to price since.
Discussion
for sure. but the timing seems to always coincide with a bullrun. Like dumping water on a fire.
Maybe it just feels that way.
US govt last sold bitcoin publicly in March 2023 which was pretty bearish still at this point. I think people are making this a bigger deal than it is, bitcoin has the liquidity to absorb a sale of this size. Sell pressure isn’t the only game in town, there’s also buying pressure when prices dip!
yeah, so things hit 16k in Nov. '22 and started picking up major steam. Value in USD had already hit 50% increase by March. Then the US dumped a bunch of coin from mt. Gox and killed the momentum for almost 6 months.
Right now we have the US dumping, Germany dumping and short salers raping the price with naked shorts. Seems pretty coordinated to me.
If my hegemonic wet dream was being threatened by a rogue asset, that's exactly what I'd do. Put as much downward pressure on the runaway price. that's the kind of price action that garners peoples attention.
I'm convinced Bitcoin wins in the end... but it's not inevitable. The state and it's money partners definitely have their tricks to prevent the loss of power.