With only 11 days left before Trump's inauguration, the US government suddenly announced that it would sell nearly 70,000 bitcoins that had been seized and managed by the FBI. The sale was allegedly authorized by a federal judge starting December 30, 2024. At current market prices, the bitcoins are worth as much as $6.5 billion. The move sparked widespread speculation about the motives behind it, with some believing it was a strategic move by the outgoing government against its successor.
It is reported that the US government currently holds about 200,000 publicly known bitcoins, making it one of the largest bitcoin holders in the world. If the Biden administration (or its behind-the-scenes team) chooses to sell all of these bitcoins in the remaining ten days, it will severely limit the possibility of the new government holding the same amount of bitcoins in the future.
This large-scale sell-off has impacted the global cryptocurrency market, leading to significant declines over three consecutive days. Commentators point out that selling off on such a scale in this context could not only harm the economic interests of the United States but also indirectly benefit its competitors, such as Russia and China, and could even make Bitcoin a tool to counter the United States.
So far, Trump and his transition team have not made any public statements on this matter. Market participants are closely monitoring the developments and hope that the new government can take effective measures to avoid potential negative impacts.