With the recent rise in the price of bitcoin (BTC), optimism seems to have completely returned. However, there are a few days this year when we might expect a significant dip. This has everything to do with the United States government most likely to sell confiscated bitcoin on these days.
Put these days in your calendar
The United States government has seized bitcoin from criminal organizations several times over the years. It is now known that the government wants to start selling these bitcoins this year. At four different times to be exact.
The first part, almost ten thousand bitcoins, was already sold on March 14 this year. These then had a total value of 215 million dollars. On that day, there was also a sharp fall in the price of bitcoin. There are now 41,500 bitcoins left that the US government will wear out this year.
Analysis company CryptoQuant has pointed out the exact days on which the remaining four volumes will be sold: May 26, August 7, October 19, and December 30. Put the days in your agenda because it can become volatile.
In November last year it was announced that the US government had seized more than 50,000 bitcoins from James Zhong. This trader stole this wealth in 2012 from the aforementioned Silk Road, an illegal online marketplace.
US government is a bitcoin whale
But the 41,000 bitcoin seized by the US government is not America’s entire crypto portfolio. In recent years, the government has seized bitcoin from alleged criminals several times. In addition to Zhong’s 50,000, the government confiscated more than 160,000 bitcoin.
The total known amount of bitcoin from the US government is currently about 200 thousand BTC. This has a value of almost six billion dollars. We can therefore say that the US government is a real bitcoin whale.