Bitcoin Market Resilient: Analysis Shows $6.5B Silk Road Stash Sale Unlikely to Disrupt
• 1 min read
CryptoQuant analysis suggests the potential sale of $6.5 billion in Bitcoin seized from Silk Road would have minimal market impact if handled through OTC trading. The cryptocurrency's massive growth in market capitalization provides sufficient cushioning against large-scale liquidations.
DOJ Set to Liquidate $6.5B in Seized Silk Road Bitcoin
• 1 min read
The U.S. Department of Justice received approval to sell 69,370 bitcoins worth $6.5B seized from the Silk Road dark web marketplace. The planned sale, citing Bitcoin's volatility, represents a significant portion of the government's crypto holdings and comes amid speculation over its timing relative to the 2024 election.