tl;dr
The US government may soon sell 69,000 BTC following a Supreme Court denial of a certiorari petition. These bitcoins were seized from the Silk Road marketplace and their sale could impact Bitcoin's price. Despite formalities that must be followed, the ruling allows the government to proceed. There a...
The US Supreme Court has denied a certiorari petition, allowing the US government to proceed with selling 69,370 BTC seized from the Silk Road marketplace. This decision could have a significant impact on Bitcoin's price due to the potential selling pressure from such a large sale. Despite the formalities that must be followed, the government has received the green light to proceed with the sale. There are suggestions for the US to retain seized bitcoins as a strategic reserve asset. The potential sale brings to mind the German government's sale of BTC earlier this year, which resulted in a price drop.
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More about General Dynamics Corporation
General Dynamics Corporation Analysis General Dynamics Corporation Analysis Summary
General Dynamics Corporation (GD) is an American aerospace and defense corporation headquartered in Reston, Fairfax County, Virginia.
Sector: Manufacturing
Industry: Ship & Boat Building & Repairing
Market Cap: $82.61 billion
Current Price: $23.47
Price/Earnings Ratio: 5.48
Dividend Yield: 12.81
52-Week High: $164.48
52-Week Low: $0.0789
Revenue: $44.94 billion
Operating Income: $32.21
Operating Margin: 20.7%
Net Income Margin: 18%