TechFlow news, according to Cointelegraph, many people including Steven Lubka, a director at bitcoin exchange Swan Bitcoin, consider the U.S. government's planned auction of $118 million worth of bitcoin to be "insignificant" compared to GBTC outflows.
Lubka said on X: "This morning's GBTC outflows were four times this amount."
It is understood that the last known sale by the U.S. government occurred in March 2023, when it sold 9,118 bitcoins.
Previous report, according to an official U.S. government notice, the U.S. government intends to dispose of nearly 2,875 bitcoins seized in 2021 from Ryan Farace and Sean Bridges, valued at $117 million, "in such manner as the Attorney General may direct." Additionally, there are about 59 more bitcoins belonging to Farace. At the time of filing, the seized bitcoins were worth approximately $133 million.
