[HN Gopher] US Government Sells $215M in Silk Road Bitcoin, Plan...
       ___________________________________________________________________
        
       US Government Sells $215M in Silk Road Bitcoin, Plans to Dump
       Another Billion
        
       Author : paulpauper
       Score  : 23 points
       Date   : 2023-05-10 19:28 UTC (3 hours ago)
        
 (HTM) web link (decrypt.co)
 (TXT) w3m dump (decrypt.co)
        
       | jollyllama wrote:
       | Who decides it's time to sell this?
        
         | MichaelZuo wrote:
         | Probably not public info.
        
       | 71a54xd wrote:
       | Good, every time they dump they lose less future leverage
        
       | westcort wrote:
       | Could buy another few days before the debt limit hits
        
       | TacticalCoder wrote:
       | > The crypto markets may be looking uncertain right now but some
       | are still making money from Bitcoin sales: the U.S. government.
       | 
       | Oh yup they do. The IRS also claims FTX.us must pay them $44
       | billions and because it's the IRS they get preferential treatment
       | and are to be paid those $44 billions _before_ customers get to
       | get their money.
       | 
       | So it's all "fake monopoly money" and whatnots, but the US
       | government is certainly enjoying very real money from all this,
       | not to mention the tax on realized gains they're making too.
        
       | paulpauper wrote:
       | This can explain why bitcoin always falls when the stock market
       | is open, like today . Possibly it is being liquidated on
       | exchanges with stock market is open. it's possible the coins are
       | being sold during market hours.
        
         | paulpauper wrote:
         | as evidence of this phenomenon, a strategy that shorts bitcoin
         | when the stock market opens and goes long QQQ, then closes both
         | pairs when the stock market closes, would have made fifty
         | percent over the past year by doing this everyday
         | 
         | https://i.imgur.com/gj8EluF.png
         | 
         | it even made profit this year despite bitcoin being up a lot
        
       | YourDadVPN wrote:
       | Nice of them to sell near the bottom and help me accumulate more.
        
       ___________________________________________________________________
       (page generated 2023-05-10 23:02 UTC)