The US will sell over $130 million in bitcoin linked to the Silk Road forfeitures

The US has filed public notification that it’ll be selling over $130 mn in bitcoin seized as part of Silk Road money laundering and drug trafficking crimes.

• notice lists two lots of bitcoin that the government plans to sell
• first is roughly 2,800 BTC for around $129 mn
• second is much smaller, 58 BTC for about $3 mn

This is a drop in the bucket compared to the ETF related ‘sell the fact’. For example:

• JP Morgan predict easing selling pressure on Bitcoin as Grayscale profit taking stabilizes

This article was written by Eamonn Sheridan at www.forexlive.com. Source