Close Menu
Cryprovideos
    What's Hot

    Shiba Inu Set for Explosive 200% Surge Subsequent Week, Analyst Predicts – BlockNews

    June 6, 2025

    Elon Musk and Donald Trump Conflict in Fiery Coverage Fallout

    June 6, 2025

    Making $9,756 a day? The right way to begin your RIMining crypto cloud mining journey with Robinhood

    June 6, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Bitcoin»Bitcoin Value Crash Imminent? US DOJ Receives Greenlight To Promote 69,370 BTC Value $6.58 Billion | Bitcoinist.com
    Bitcoin Value Crash Imminent? US DOJ Receives Greenlight To Promote 69,370 BTC Value .58 Billion | Bitcoinist.com
    Bitcoin

    Bitcoin Value Crash Imminent? US DOJ Receives Greenlight To Promote 69,370 BTC Value $6.58 Billion | Bitcoinist.com

    By Crypto EditorJanuary 9, 2025No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The Bitcoin worth has been on a contemporary decline up to now 24 hours after it broke above the $100,000 degree once more very briefly. This decline has seen Bitcoin break beneath the $95,000 worth mark once more, however a current crypto market replace is threatening to ship it additional down. In accordance with current experiences, a US District Choose has dominated that the US Division of Justice can promote its Bitcoin holdings, which had been seized throughout the notorious Silk Highway case. With this improvement, an eventual sale of those Bitcoins raises the query of how this can influence Bitcoin’s worth trajectory.

    Greenlight To Liquidate Silk Highway BTC

    The BTC in query had been seized by the US DOJ as a part of its crackdown on Silk Highway, a infamous darknet market. These Bitcoins, which at present quantity to 69,370 BTC, had been seized way back to 2013 and have seen their collective worth develop massively since then. On the time of writing, the DOJ’s 69,370 BTC holding is price greater than $6.58 billion.

    In accordance with a report from DB Information that was corroborated by a U.S. authorities official, the DOJ is now absolutely approved to liquidate the $6.58 billion price of Bitcoin. This authorization follows the decision of a year-long possession dispute between the U.S. authorities and Battle Born Investments Firm. The dispute was settled when Chief U.S. District Choose Richard Seeborg dominated in opposition to Battle Born Investments Firm’s request to delay the sale. Apparently, court docket paperwork concerning this case present that the judgement was made on December 30, 2024.

    Bitcoin Value Crash Imminent? US DOJ Receives Greenlight To Promote 69,370 BTC Value .58 Billion | Bitcoinist.com
    Supply: X

    Bitcoin Value Crash Imminent?

    Though authorities officers have offered little readability on whether or not the DOJ intends to promote its Bitcoin holdings within the close to future, the potential of a sale raises issues about its potential influence on Bitcoin’s worth. Contemplating the worth of the Bitcoin holdings, an enormous inflow may flood the market with extra BTC and create one other promoting stress on the Bitcoin worth, which is already struggling to carry above $100,000. A first-rate instance of that is the 40,000 BTC bought by a German state referred to as Saxony in the midst of 2024, which noticed the Bitcoin worth fall from above $70,000 to $56,000.

    Within the case of the DOJ’s holdings, the market influence of an eventual sale relies upon closely on how the liquidation is executed. There’s additionally the potential of a hastened sale by the DOJ, particularly contemplating a brand new administration is about to return in by the top of January. 

    Talking of the brand new administration, the brand new Trump administration guarantees to be crypto-positive, and there have even been mentions of a Bitcoin reserve. This crypto-positive strategy reduces the worry of liquidation of Silk Highway’s 69,370 BTC by the DOJ. However, Bitcoin may simply stand up to if a selloff ultimately occurs, very similar to it did throughout Germany’s Saxony sale.

    On the time of writing, Bitcoin is buying and selling at $94,300. 

    Bitcoin price chart from Tradingview.com
    BTC worth drops additional to $93,000 | Supply: BTCUSD on Tradingview.com

    Featured picture created with Dall.E, chart from Tradingview.com



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Breaking: Metaplanet Publicizes Objective to Maintain 210,000 Bitcoin by 2027

    June 6, 2025

    Dealer Warns Bitcoin Is in ‘Cancerous Value Motion,’ Says One Ethereum-Primarily based Altcoin That’s Exploded 143% in One Month Will Go Larger – The Day by day Hodl

    June 6, 2025

    Bitcoin Settling $7.3B/Day In Quantity: How Does Visa Evaluate?

    June 6, 2025

    Bitcoin ETFs bleed on Trump-Musk fallout as sentiment turns to worry

    June 6, 2025
    Latest Posts

    Breaking: Metaplanet Publicizes Objective to Maintain 210,000 Bitcoin by 2027

    June 6, 2025

    Dealer Warns Bitcoin Is in ‘Cancerous Value Motion,’ Says One Ethereum-Primarily based Altcoin That’s Exploded 143% in One Month Will Go Larger – The Day by day Hodl

    June 6, 2025

    Bitcoin Settling $7.3B/Day In Quantity: How Does Visa Evaluate?

    June 6, 2025

    Bitcoin ETFs bleed on Trump-Musk fallout as sentiment turns to worry

    June 6, 2025

    Bitcoin (BTC) earnings outstrip shares as holders earn $75,000 a day with BAY Miner

    June 6, 2025

    Bitcoin Whales Set off Document Breaking Promote-Off After Value Surge: Is Now the Time to Take Earnings? – BlockNews

    June 6, 2025

    Trump Advisor Meets Bukele Amid U.S. Curiosity in Bitcoin Technique – CryptoDnes EN

    June 6, 2025

    Bitcoin's 900,000th Block Has Been Mined. How Many Are Left?

    June 6, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Prime Crypto Gainers In the present day Dec 15- Helium, Klaytn, Axelar, Tezos

    December 16, 2024

    Bitcoin Breaks $100K: Why This Historic Milestone Issues for the Way forward for Crypto

    December 5, 2024

    Altcoins Primed for Large Upward Run, In keeping with Crypto Analyst Michaël van de Poppe – Right here’s His Outlook – The Day by day Hodl

    December 7, 2024

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.