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CryptoQuant from on-chain analysts; He confirmed that the US government has sold 8,200 more of the Bitcoins (BTC) linked to the Silk Road hack, the darknet market that is no longer operating.
Recently, there has been an important development that has caught the attention of the cryptocurrency community. CryptoQuant's on-chain analysts have confirmed that some Bitcoin linked to the infamous darknet marketplace Silk Road has been sold by the US government. It is stated that the disposed Bitcoins contain BTCs belonging to Silk Road hacker James Zhong.
US Government Balances Sales To Not Affect The Market
Confirmed by CryptoQuant's report, this sale was not surprising for those who follow the cryptocurrency markets closely. Because the US government's preference to sell these Bitcoins instead of holding them was taken as an indication of the maturation of the market and its willingness to liquidate the seized assets.
In addition, this latest sale of 8,200 BTC by the government was significantly less compared to its previous BTC sales. This was interpreted by many analysts as the government's attention to the liquidation process. The US government's attempt to make BTC sales balanced was evaluated as it wanted to prevent large price fluctuations that might be on the market. This careful approach was also considered as an indication that the government understands the cryptocurrency ecosystem and wants to generate maximum returns from these assets.
Despite this significant sale, according to the report, it seems that the US government still has 195,307 BTC that it has obtained from various criminal events.
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