The Breakdown The US Gov't Sells Its BTC Stack
Jun 28, 2024
US and Germany are selling BTC, Mt. Gox unlocks are looming. Shift in US policy towards crypto, Mt. Gox distribution analysis. Bitcoin price stability, ETF inflows, and mysterious Bitcoiner's kindness. UAE's regulatory shift on crypto and its impact on digital economy.
AI Snips
Chapters
Transcript
Episode notes
US Government Bitcoin Sale
- The US government sold 3,940 Bitcoin seized from a dark web vendor.
- This sale, worth $241 million, follows a pattern of US government Bitcoin liquidations.
Market FUD and Hypocrisy
- The US government's Bitcoin sales raise concerns about market manipulation and hypocrisy, given Coinbase's legal battles.
- Despite the large holdings, the scale of sales is manageable compared to Coinbase Prime's daily volume.
Liquidation Concerns and Legal Complexities
- Concerns exist about the US government liquidating its entire $13 billion Bitcoin stack to undermine political opponents.
- Legal processes and ongoing investigations, like the Bitfinex hack case, complicate immediate liquidation.