US Government Selling 41,500 BTC – 245

Talk about the U.S government to sell Forty one thousand five hundred Bitcoin Which would be worth right now 1.8 1.18 Billion dollars connected to Silk Road Due to its long history of seizures the US government is one of the largest Holders of Bitcoin according to court Filings the U.S government holds more Than 2 million is that right that Doesn't seem right this is supposed to Be 2 million 50 000 Bitcoin or is it Supposed to be 205 000 Bitcoin we're Gonna go with 205 000 that sounds more Reasonable 2 million would be too much As of March 27th the numbers revealed That the US government is the largest Holder of Bitcoin initially the US Government sees Bitcoin maintained by Individual X which is interconnected to The Silk Road marketplace this left the US government with 69 369 Bitcoin it was Also followed by the seizure of 50 000 Bitcoins from James Zhong who is again Connected to the Silk Road now according To details from the latest court Documents the US government is planning To sell forty one thousand five hundred Bitcoin connected to Silk Road you know This is just how they do do it they go In they confiscate all the Bitcoin and Then they sell it here's what's really Interesting about confiscation Surrounding Bitcoin and some of the Factors that really

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Kind of make this this is sketchy I Suppose is that a lot of the Confiscations that are happening through Exchanges and Etc aren't always Necessarily tied directly to an Individual that participated within Silk Road for example if you have a Centralized exchange like I don't know Mount gox or whatever it is at the time And it wasn't Mountain Cox but anyways Let's just use Mount gox and you have an Exchange that is dumping all of their Bitcoin into one Bitcoin wallet and it Mixes and intermingles all this Bitcoin And it has because of that that wallet Has ties to the Silk Road well they go In they confiscate it but you know user A or B probably didn't even participate Within the Silk Road and they get their Bitcoin confiscated it's pretty skeezy Deal this is why I'm going to say it This is why mining is better why is Mining better than purchasing on an Exchange if you purchase Bitcoin on Exchange you have no guarantee that it Hasn't been tied to something that will Will be deemed illegal and therefore be Under basically the possibility of being Seized from you at any given time okay Bitcoin as it is mined means its virgin Bitcoin hasn't touched any of this stuff In potentially at all and there is a lot Lower chance of you having to deal with Seizures that sort of thing right so I

Wanted to bring that up because this is A a Hot Topic within the Bitcoin mining Communities and a lot of reason why you Still see large Farms being built out by A lot of different people it's really Interesting right but let's go ahead and Continue on So according to details in the court Documents the government is planning to Sell Bitcoin in four different batches This year The details revealed that the government Had been liquidating 51 351.89 Bitcoins forfeited in the Albright case The government sold nine thousand it had 861 Bitcoin for a total of 215 million On March 14th of 2023. the government is Planning to liquidate the rest of the 41 490 bit 0.72 Bitcoin in four different Batches this calendar year the value of 41 490.72 Bitcoin at press time stands at 1.18 billion dollars in U.S according to Bitcoin's current price of 28 448 now the big question will be is this Enough to Impact the price negatively as we see This Bitcoin come you know back into the Market because not only just to be clear Right not only is this a big dump in Value back into the market but this is Adding more Supply back into the market Right and so it has that potential to

Bring the price back down for Bitcoin is That all also part of the plan though as We talked about last week this concerted Effort from the U.S government to stifle Cryptocurrency and as we saw the Announcement from Senator Warren today To create an anti-crypto group they got An anti-crypto army coming our way and I Think that's not going to pose well for Her in elections but you know it is what It is some people love it some people Hate it then we'll just go ahead and see I for one will not stand for it good sir But it is what it is thanks for checking Out this clip from the crypto mining Show you can check out the full episode Here or more crypto content down here Also I'd like you to check out my locals Page at son of a tech.locals.com where You can become a member for free or Choose to be a five dollar a month Supporter that unlocks additional Content

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