US Government’s Bitcoin Sale Dates Revealed: How Will This Impact the Market?
In a recent report by CryptoQuant, it was revealed that there are four crucial dates that may exert additional selling pressure on Bitcoin due to the US government’s Bitcoin holdings. As a result, many Bitcoin investors are keeping a close eye on these dates to prepare themselves for potential market fluctuations.
The dates in question are 26 May 2023, 7 August 2023, 19 October 2023, and 30 December 2023. According to the report, the US government’s Bitcoin holdings will be sold in four batches throughout the year, with each batch being sold every 73 days. The first batch was sold on 14 March 2023, one week after the transaction on 7 March 2023.
The US government’s Bitcoin holdings are a significant amount, with about 41,491 bitcoins still remaining to be sold. As such, the sale of these remaining batches is expected to have a considerable impact on the market. Bitcoin investors are therefore advised to take note of these dates and keep themselves updated on any developments that may occur.
While there is no certainty that the sale of the remaining batches will follow the pattern of being sold every 73 days, it is a possibility that cannot be ruled out. It is essential to note that the sale of these bitcoins by the US government is not an indication of their stance on Bitcoin as a digital currency. Instead, it is a move that is aimed at liquidating their assets to help fund various government programs.
In conclusion, the sale of the US government’s Bitcoin holdings is expected to have a significant impact on the Bitcoin market, and investors are advised to be prepared for potential market fluctuations. With the four crucial dates now known, investors can take proactive measures to protect their investments and avoid any potential losses.
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