#The US government's 6.5 billion Bitcoin sale process is strict.#
Hot Topic Overview
Overview
The U.S. government currently holds $6.5 billion worth of Bitcoin, but selling it requires a rigorous process. According to Aidan Larkin of Asset Reality, a U.S. company that helps the government manage seized assets, the selling process includes court approval, civil forfeiture hearings, and marshal procedures, and is not immediate. Additionally, the likelihood of these Bitcoins being transferred to a potential Bitcoin strategic reserve is low.
Ace Hot Topic Analysis
Analysis
The $6.5 billion worth of Bitcoin held by the US government will be subject to a very strict sale process and will not happen immediately. According to Aidan Larkin of Asset Reality, a US company that helps the government manage seized assets, the recent court approval is just a normal part of any civil forfeiture and does not mean the US government will sell the Bitcoin immediately. The sale must follow a very strict process, including a civil forfeiture application hearing, and after approval, it will enter the normal marshal process and public domain. In addition, the possibility of these Bitcoins being transferred to a potential Bitcoin strategic reserve is not high, so don't get your hopes up.
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, including court approval, civil forfeiture application hearings, etc.
The sale process is not immediate and requires going through normal government and marshal procedures.
It is unlikely that these Bitcoins will be transferred to a potential Bitcoin strategic reserve.
Asset Reality believes that the sale process needs to follow a very strict process and will not immediately press the sell button.