Joe Biden Plans to Sell Bitcoin Before Trump’s Inauguration – What to Expect?

• Is Joe Biden planning to sell 198.000 Bitcoins?
• Potential market manipulation before Trump takes office.
• Volatility expected with possible new price record.

In a crucial week for the cryptocurrency market, investors are faced with remarkable volatility in the price of Bitcoin. According to information In recent news, the United States Department of Justice (DOJ) has plans to liquidate a substantial Bitcoin hoard totaling exactly 198.000 BTC. This decision comes after a long legal dispute involving assets seized from the notorious darknet marketplace Silk Road, totaling an estimated value of $18,5 billion.

News of the potential DOJ sale coincided with a sharp drop in Bitcoin prices, which plunged from $102 to a weekly low of $91.200. The leading cryptocurrency is currently struggling to stabilize above $94 as the market closely monitors its next moves.

Amidst this turmoil, Fox Business contributor Jason Williams, criticized openly the Biden administration's strategy.

Hello American taxpayers – the Biden administration is instructing the DOJ to sell thousands of Bitcoins during a bull run, knowing that the incoming administration intends to buy Bitcoin and will in fact have to pay more to get the very Bitcoin it currently owns back.

This is an absolute injustice and perversion of the fiduciary responsibility we hold government to.

We are selling these Bitcoins for approximately 94 thousand. What will be the price they will pay back???

Higher.

Moreover, reviews Arkham Intelligence reports indicate that there has been no movement of Bitcoins held by the United States to date. As of January 11, the United States government held 198.000 BTC, valued at approximately $18,5 billion, according to Arkham Intelligence.

With pro-Bitcoin President Donald Trump set to be inaugurated on January 20, the coming week promises to be crucial for the future of the highly volatile cryptocurrency market.

So far, speculation suggests that the news of the sell-off could be a ploy to manipulate the market and drive prices down. If the sell-off does indeed begin next week, we could see Bitcoin lose some important support. However, if the sell-off does not go as expected, it is possible that the cryptocurrency could reach new price records in the following weeks.