US gov has to follow a 'strict process' before unloading $6.5B of bitcoin
The U.S. government must adhere to a stringent procedure before selling its $6.5 billion bitcoin stash, as explained by Aidan Larkin from Asset Reality. The recent court ruling allows the government to proceed with civil forfeiture applications for the seized assets, but it does not trigger an immediate sale. Instead, there will be a formal hearing, and a series of pre-established governmental processes must be followed. Coinbase is expected to facilitate the transfer of bitcoin to be sold, although Larkin suggests that market fluctuations should not be attributed to the government's potential selling actions. Battle Born Investments had attempted to block the sale, but their motion was overruled, enabling the government to advance. The possibility of the government using bitcoin linked to criminal activities as a reserve is also deemed low, with speculation that instead, it may focus on acquiring legally mined bitcoin in the U.S.
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