#US government's $6.5 billion Bitcoin sale requires strict procedures#
Hot Topic Overview
Overview
The U.S. government currently holds $6.5 billion worth of Bitcoin, but selling them requires a rigorous process. According to professionals, the selling process involves multiple steps, including court approval, civil forfeiture application hearings, and marshal procedures. This means that the U.S. government will not sell these Bitcoins immediately, and the possibility of incorporating them into strategic reserves is also low.
Ace Hot Topic Analysis
Analysis
The sale of $6.5 billion worth of Bitcoin held by the US government requires a rigorous process and is not something that can happen immediately. According to Aidan Larkin of Asset Reality, the recent court approval is just a normal part of the civil forfeiture process and does not mean the US government will immediately sell these Bitcoins. The sale must follow a strict process, including a civil forfeiture application hearing, and obtain approval before entering the marshal's process and public domain. Furthermore, the likelihood of these Bitcoins being pooled into a potential Bitcoin strategic reserve is also low, so don't get your hopes up too high.
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 strict process, including court approval, civil forfeiture application hearings, etc.
The sale process is complex and will not take place immediately, requiring normal government and marshal procedures.
These bitcoins are unlikely to be transferred to a potential bitcoin strategic reserve.
Asset Reality believes that the US government's sale of bitcoin requires a strict process and will not take place immediately.