DOJ Announces Sale of $6.5M in Seized Silk Road Bitcoin
Bitcoin recently peaked at $108K but dropped to around $93K following an announcement from the US Department of Justice (DOJ) regarding the sale of 69,370 $BTC, valued at approximately $6.5M. The DOJ received court approval for the sale due to concerns about Bitcoin’s volatility.
The seized Bitcoin originated from Silk Road, a darknet marketplace. This development has negatively impacted Bitcoin's price in the market.
Donald Trump's upcoming inauguration is anticipated to influence Bitcoin positively, given his pro-crypto stance and potential plans for a strategic reserve for digital assets. However, this recent DOJ announcement has overshadowed those expectations.
In light of Bitcoin's volatility, investors may consider alternative cryptocurrencies. Here are five notable options:
- Wall Street Pepe ($WEPE) - Raised $44.6M in presale.
- Solaxy ($SOLX) - First Layer-2 ecosystem for Solana, raised $9.4M.
- Pudgy Penguins ($PENGU) - Market cap of $2,058B; stable price amidst market fluctuations.
- Best Wallet Token ($BEST) - Raised $6.8M, offering benefits to holders.
- Pepe Unchained ($PEPU) - Raised $74M in presale; now operational with a Layer-2 blockchain.
Investors should conduct their own research before making investment decisions, especially in light of current market conditions surrounding Bitcoin.