U.S. DOJ's Silk Road Bitcoin Sale Rumors - Bitcoin Magazine CEO

# DOJ Bitcoin Sales Allegedly Trigger Market Decline New York - Correspondent Park Jae-hyeong The U.S. Department of Justice (DOJ) has come under scrutiny with claims that its recent sale of Bitcoin (BTC) seized from the infamous Silk Road marketplace has been a significant factor in the recent market downturn. David Bailey, CEO of *Bitcoin Magazine*, raised the possibility on October 10 via X (formerly known as Twitter) that the DOJ continues to sell off Bitcoin. He speculated that these sales have occurred even under former President Donald Trump's administration, which was known for its pro-Bitcoin stance, potentially contributing to the recent price decline. The market is divided on this issue. Some argue that the amount of Bitcoin held by the DOJ is not substantial enough to impact the market significantly. In contrast, other investors point to macroeconomic factors as the primary cause of Bitcoin's recent price drop. Bailey's claims originate from a decision in December last year when a U.S. court permitted the DOJ to liquidate 69,370 BTC seized from Silk Road. Historically, the DOJ has disposed of such assets through large-scale auctions, but the lack of transparency regarding the specific schedule and methods has led to various speculations. Bailey expressed concerns that the DOJ might have been aggressively selling Bitcoin over the past three months, exacerbating market volatility. While the DOJ has not officially confirmed these allegations, the ongoing discussions linked to Bailey's claims have intensified, coinciding with Bitcoin’s price swings. Should these claims be verified, there are rising concerns regarding the potential impact on the market from DOJ's Bitcoin liquidation.