UK go sell 61,000 BTC for Tranches from Silk Road Seizure
Because dem dey face budget shortfall, UK government go sell about 61,000 BTC wey dem seize from Silk Road darknet marketplace. Crown Prosecution Service, Home Office, Ministry of Justice and HM Treasury go join body arrange structured Bitcoin sale for parts—starting with about 15,000 BTC—through auction and OTC deals for institutional platforms. The money wey dem go get go enter Treasury’s consolidated fund.
This tranche-based plan na to reduce market wahala. But as the current price be around $117,000 per BTC, even small sell-off fit cause market shaking. Traders suppose dey watch short-term price movements and liquidity changes during the Bitcoin sale.
The operation, wey resemble the past US government crypto auctions, dey happen for mature market. How dem handle am fit set global example for how to deal with seized digital assets and fit affect the ongoing UK–US talks on crypto regulation.
Neutral
Even though di plan for sell Bitcoin in chunks fit bring selling pressure wey fit cause short-term price drop and liquidity wahala, di structured way—and how market don mature since di past US seizure—supposedly go reduce heavy impact. If e happen slowly through auction and OTC desks, e no go spoil Bitcoin fundamentals for long term. So, traders fit expect small wahala for short time, but overall price path suppose stay neutral.