The U.S. government is reportedly planning to sell 69,370 <a href="https://www.cryptoknowmics.com/news/bitcoin-whale-adds-750-btc-despite-facing-major-unrealized-losses/">Bitcoin</a> seized from the dark web marketplace Silk Road. The Bitcoin, worth approximately $4.6 billion, is part of the assets under government control after the U.S. Supreme Court declined to hear Battle Born Investments' case over the ownership of the seized cryptocurrency. This ruling gives the government full control over the Bitcoin, adding to the $13 billion worth of BTC already in its possession.
<h3>Peter Schiff Suggests MicroStrategy Purchase</h3>
[embed]https://twitter.com/PeterSchiff/status/1843789560804978695[/embed]

In an X post on October 9, 2024, prominent economist Peter Schiff proposed that MicroStrategy, the largest public holder of Bitcoin, should acquire the 69,370 BTC from the government. Schiff suggested that MicroStrategy CEO Michael Saylor borrow an additional $4.3 billion to make the purchase, highlighting the potential impact such a move could have on the market. Schiff, known for his skepticism of Bitcoin, regularly criticizes MicroStrategy's Bitcoin-heavy investment strategy, questioning the company's stock performance relative to Bitcoin’s price fluctuations.
<h2>MicroStrategy Stock Performance</h2>
[embed]https://twitter.com/PeterSchiff/status/1843677364557099502[/embed]

Despite Schiff’s criticism, MicroStrategy’s stock (MSTR) has been performing well recently, driven by its significant Bitcoin holdings. MSTR stock surged 19% over the past five trading sessions, with a current price of $192.20, and reached a 52-week high of $199.90. Analysts believe the stock could soon hit a resistance level of $219.87 if bullish momentum continues. The stock's year-to-date growth of 180.50% is largely attributed to MicroStrategy’s Bitcoin accumulation strategy, which has boosted its market capitalization significantly.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

U.S. Government to Sell 69,370 Seized Bitcoin, Peter Schiff Urges MicroStrategy to Buy

The U.S. government plans to sell 69,370 BTC seized from Silk Road. Peter Schiff suggests MicroStrategy should acquire the $4.6 billion worth of Bitcoin.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

U.S. Government to Sell 69,370 Seized Bitcoin, Peter Schiff Urges MicroStrategy to Buy

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