Reports circulating that the DOJ has been cleared to dump 69,370 Bitcoin, looks like cheap sats are temporarily back on the menu boys!
Get your dry powder ready, we need to be there to provide exit liquidity π π
Discussion
Maybe we should all buy at least some of it and give it back to Ross.
Well if we don't buy it, Saylor will! Lol
Depends on how they dump, will they just hit the open market or do an auction as they've done previously?
First free Ross, then we get him on nostr, then we can go after the remaining SR Bitcoin, this isn't the full stack!
True, sounds like a good plan.
I think they have to do auction in this case (as for any sold forfeited funds). They don't really have other options.
I know previous sales were auctions, but is there a particular reason that the German government sale was so impactful to the price during that 2 weeks? Those were forfeited funds too
it's 10% of daily traded volume only on non otc exchanges (including otc probably less than 3%)
it will make a small dip, for about two days.
Approved 10 days ago, is there any chance itβs been sold already?
Could be, if they did an auction we won't know, but if it hits the market, we would see something like transfers to known exchange wallets
Was this the btc that Trump was hoping he could convert to a SBR? Have the dems decided to try to sabotage the potential SBR the seized funds would form, by selling it before the inauguration? Does this firesale reduce the possibilty of a Strategic Bitcoin Reserve?
Am I barking up the wrong tree?
It's part of that stash yes, but not the entire amount, wouldn't be the first time they've sold off Bitcoin from forfeiture, perhaps it was in the works for some time, and they just want to wrap it up before Trump takes office. Even if this is dumbed they'll still over 100 000 BTC, but it would mean China is the largest government holder then
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