Potential $4B Bitcoin Sell-Off by US Government, Here’s What Peter Schiff Says
The US government now holds 69,370 seized BTC from Silk Road, sparking speculation of a potential sell-off.
Peter Schiff mocked MicroStrategy’s Michael Saylor, teasing him to raise $4.3 billion to buy these Bitcoins.
With the 2024 US Presidential Elections approaching, the timing of any Bitcoin sale could impact crypto voters.
nown for his bearish stance on Bitcoin , has now taken the opportunity to mock MicroStrategy’s . Saylor, a vocal Bitcoin advocate, has consistently increased MicroStrategy’s BTC holdings through debt issuance.
In a recent post, Schiff :
“I think Michael Saylor should have MSTR borrow another $4.3 billion and buy it. Who agrees with me?”
“I think Michael Saylor should have MSTR borrow another $4.3 billion and buy it. Who agrees with me?”
Currently, the US government holds a total of 203,239 Bitcoins, worth over $12.63 billion, as reported by Arkham Intelligence. Selling 69,370 BTC would amount to nearly one-third of the government’s crypto stash.
These assets remained untouched for over four years as legal battles surrounding the Silk Road raged on. However, a recent US Supreme Court ruling on October 7 has granted the government full control over the Bitcoins, allowing it to decide how
