CryptoQuant CEO: The 6.5 billion dollars worth of Bitcoin from the Silk Road case could be absorbed by the market within a week
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CryptoQuant CEO: The 6.5 billion dollars worth of Bitcoin from the Silk Road case could be absorbed by the market within a week
Regarding the news that "the U.S. Department of Justice has been approved to sell $6.5 billion worth of Bitcoin seized from the Silk Road darknet," Ki Young Ju, CEO of CryptoQuant, posted on X: "Last year, $379 billion entered the market based on realized market cap, about $1 billion per day. The $6.5 billion in Bitcoin being sold by the U.S. government could be absorbed within a week. Don't panic."
Navigating Web3 tides with focused insightsTechFlow reports on January 9: Regarding the news that "the U.S. Department of Justice has been authorized to sell $6.5 billion worth of seized Silk Road darknet Bitcoin," Ki Young Ju, CEO of CryptoQuant, posted on X stating, "Last year, $379 billion entered the market based on realized market cap, about $1 billion per day. The $6.5 billion in Bitcoin being sold by the U.S. government could be absorbed within a week. Don't panic."
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