Feds are trying to slow market growth

1 - ZItI0MOAfter the big news of both Overstock and the NBA team, Sacramento Kings, adopting bitcoins, the Fed may be trying to curtail the recent growth in the market. The mere threat of dropping $25mil worth of bitcoin on the exchanges could push the market to new lows, let alone if they actually do…

Forbes just reported that the FBI is no longer interested in holding the 29,655 bitcoins.

 It’s likely that the U.S. Marshals will instead auction off the Bitcoins as if they were Bernie Madoff’s penthouse or a drug dealer’s cars. When the FBI first seized the coins in October, they were worth about $6 million; they’re now worth four times that. This is a bust that keeps on paying off. The proceeds will go to the U.S. Treasury.

Either way, It won’t even be blimp on the record when we look back in a year or two. These coins will probably be purchased up by huge investors at bargain prices. Other reports say they will be  split up and sold off auction style, not directly to any exchange.

Full article here.

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