#The US government will 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 a civil forfeiture hearing and a marshal's process. Aidan Larkin of Asset Reality said the U.S. government will not immediately sell these Bitcoins, but will follow normal government procedures. Additionally, the possibility of these Bitcoins being funneled into a potential Bitcoin strategic reserve is also low.
Ace Hot Topic Analysis
Analysis
The U.S. government holds $6.5 billion worth of Bitcoin, and a recent court approval has allowed its sale, but that doesn't mean the government will sell it immediately. Industry insiders say the sale process will go through a rigorous procedure, including a civil forfeiture hearing. Once approved, it will go through the U.S. Marshal Service and then be publicly sold. Additionally, there is a low possibility of these Bitcoins being poured into a potential Bitcoin strategic reserve. This implies that the U.S. government's sale of these Bitcoins will take time and won't happen soon.
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 many steps.
Selling Bitcoin requires a hearing on a civil forfeiture application, and approval is required before proceeding to the marshal's process and public domain.
The US government will not sell the Bitcoin immediately; it will take some time to complete the sale process.
It is unlikely that these Bitcoins will be transferred to a potential Bitcoin strategic reserve.