According to ChainCatcher news, David Bailey, CEO of Bitcoin Magazine, posted on social media that "if the U.S. Department of Justice has been hastily liquidating the Bit that the U.S. government holds within three months of obtaining court approval (against the will of the President), then the recent price trend of Bit can be explained." Implying that government sell-offs may be an important reason for the recent downward pressure on the price of Bit.
Bitcoin Magazine CEO: The U.S. Department of Justice may sell BTC against the president’s wishes, causing recent price pressure
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