{"id":6761,"date":"2025-01-09T07:19:42","date_gmt":"2025-01-09T07:19:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=6761"},"modified":"2025-01-09T07:19:42","modified_gmt":"2025-01-09T07:19:42","slug":"us-govt-cleared-to-liquidate-6-5b-in-btc-from-silk-road-but-dont-panic","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=6761","title":{"rendered":"US Govt Cleared to Liquidate $6.5B in BTC from Silk Road, But Don\u2019t Panic"},"content":{"rendered":"<div>\n<p>On Jan. 9, crypto news feed DB News reported that \u201can official confirmed\u201d the US government has been given the green light to liquidate 69,000 BTC worth around $6.5 billion from <a href=\"https:\/\/cryptopotato.com\/is-the-us-government-selling-240-million-in-bitcoin-btc-related-to-silk-road\/\" data-wpel-link=\"internal\">Silk Road seizures<\/a>.<\/p>\n<blockquote>\n<p>An unsourced screenshot read, \u201cA federal judge ruled on Dec. 30 that the DoJ (Department of Justice) can sell 69,370 Bitcoin seized from the Silk Road darknet marketplace, officials confirmed.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The US Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today<\/p>\n<p>Interesting situation less than 2 weeks away from the new admin who vowed to not sell <a href=\"https:\/\/t.co\/HqD1KnhJK3\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/HqD1KnhJK3<\/a> <a href=\"https:\/\/t.co\/xn8ATSEL7H\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/xn8ATSEL7H<\/a><\/p>\n<p>\u2014 db (@tier10k) <a href=\"https:\/\/twitter.com\/tier10k\/status\/1877176406905356670?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 9, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>No Need to Panic<\/h2>\n<p>According to Arkham Intelligence, there was a sharp drop in BTC holdings at that address (bc1qa), which fell to zero on Jan. 8.<\/p>\n<p>It also <a href=\"https:\/\/intel.arkm.com\/explorer\/address\/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">showed<\/a> the latest transaction from that address on Jan. 9 of just $0.51 worth of BTC and still reports the balance being valued at $6.5 billion.<\/p>\n<figure id=\"attachment_377965\" aria-describedby=\"caption-attachment-377965\" style=\"width: 942px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/arkham.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-377965 size-full\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/arkham.jpg\" alt=\"\" width=\"942\" height=\"723\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/arkham.jpg 942w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/arkham-300x230.jpg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/arkham-768x589.jpg 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/arkham-50x38.jpg 50w\" sizes=\"auto, (max-width: 942px) 100vw, 942px\"><\/a><figcaption id=\"caption-attachment-377965\" class=\"wp-caption-text\">Source: Arkham Intelligence<\/figcaption><\/figure>\n<p>However, Blockchain.com\u2019s <a href=\"https:\/\/www.blockchain.com\/explorer\/addresses\/btc\/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">explorer<\/a> showed that the balance is unchanged and remains at 69,370 BTC.<\/p>\n<p>Crypto influencer \u2018@trading_axe\u2019 <a href=\"https:\/\/x.com\/trading_axe\/status\/1877186276924801078\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">told<\/a> his 80,000 followers on X that \u201cthe seized BTC that was meant to be used for a \u2018strategic reserve\u2019 under the Trump administration was sold off already, with a credit line sanctioned by Coinbase.\u201d<\/p>\n<blockquote>\n<p>\u201cThey spent months distributing and couldn\u2019t mention it because Kamala was running against Trump. The liberals needed to maintain a \u2018positive image\u2019 and desperately needed crypto voters. THERE IS NO BITCOIN LEFT TO SELL.\u201d<\/p>\n<\/blockquote>\n<p>Crypto commentator \u2018MartyParty\u2019 also\u00a0<a href=\"https:\/\/x.com\/martypartymusic\/status\/1877183333429346762\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said,<\/a> \u201cIt\u2019s already happened.\u00a0No need to FUD.\u201d<\/p>\n<p>Meanwhile, BitMEX co-founder Arthur Hayes <a href=\"https:\/\/x.com\/CryptoHayes\/status\/1877208749380702276\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">quipped<\/a>, \u201cMy diamond hands are ready to buy the f**king dip. Send it to goblin town slow Joe!!!\u201d and Max Keiser ran a poll.<\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-09-091419.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-377967\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-09-091419.png\" alt=\"\" width=\"1188\" height=\"534\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-09-091419.png 1188w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-09-091419-300x135.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-09-091419-1024x460.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-09-091419-768x345.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-09-091419-50x22.png 50w\" sizes=\"auto, (max-width: 1188px) 100vw, 1188px\"><\/a><\/p>\n<p>CryptoQuant CEO Ki Young Ju observed that last year, $379 billion entered the market based on a realized cap, which is roughly $1 billion per day.<\/p>\n<blockquote>\n<p>\u201cThe U.S. govt selling $6.5 billion could be absorbed in just a week. Do not panic.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Last year, $379B entered the market based on realized cap\u2014roughly $1B per day.<\/p>\n<p>The U.S. govt selling $6.5B could be absorbed in just a week.<\/p>\n<p>Do not panic. <a href=\"https:\/\/t.co\/MTCTKmM5uZ\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/MTCTKmM5uZ<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1877212051795304938?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 9, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin Price Reaction<\/h2>\n<p>Bitcoin prices have been <a href=\"https:\/\/cryptopotato.com\/could-plunging-treasury-yields-be-why-btc-price-slumped-tuesday\/\" data-wpel-link=\"internal\">falling back<\/a> for the past couple of days after it reclaimed the six-figure level briefly on Jan. 7.<\/p>\n<p>There was no immediate reaction to this \u2018news,\u2019 and the asset was down 2% on the day at $94,050 at the time of writing after falling to an intraday low of $92,500 on Wednesday.<\/p>\n<p>BTC has returned to its rangebound channel, where it has been consolidating since mid-November. Panic selling may commence if it <a href=\"https:\/\/cryptopotato.com\/bitcoin-price-breaks-below-94k-amid-warnings-about-a-crash-to-74k\/\" data-wpel-link=\"internal\">falls below<\/a> the bottom band of that channel at $90,000.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/us-govt-cleared-to-liquidate-6-5b-in-btc-from-silk-road-but-dont-panic\/\" rel=\"nofollow\">US Govt Cleared to Liquidate $6.5B in BTC from Silk Road, But Don\u2019t Panic<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On Jan. 9, crypto news feed DB News reported that \u201can official confirmed\u201d the US government has been given the green light to liquidate 69,000 BTC worth around $6.5 billion from Silk Road seizures. An unsourced screenshot read, \u201cA federal judge ruled on Dec. 30 that the DoJ (Department of Justice) can sell 69,370 Bitcoin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-6761","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6761"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6761\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}