Listen… Coldcard hackers:
You may have acquired roughly 1,500 BTC.
But spending it is a completely different challenge.
Every transaction will be watched.
Every movement will be analyzed.
Every attempt to cash out will attract attention.
Bitcoin remembers.
If your goal was wealth there may still be one path that leaves everyone better off.
Return the funds.
Accept a negotiated security bounty with CoinKite.
Leave behind a legacy of exposing a critical weakness instead of one of destroying families’ savings.
The Bitcoin ecosystem rewards people who strengthen it.
The world is watching your next move.
The #Bitcoin price rose 5% in the last 24 hours, and Grayscale halted their selling spree. However, I still want to provide insights into why #BTC has experienced a sharp decline since the #BitcoinETF launch.
Subscribe to our YouTube channel: https://t.co/v4gOQw1b6g
Give the video a thumbs up: https://t.co/BO4G1xDrQe
1⃣ #Grayscale: Since the ETF launch, holdings have dwindled from 621,000 BTC to just under 580,000 BTC. Occasional negative premiums of up to 50% during the summer hint at potential selling pressure, estimated at 281,045 BTC (worth $12 billion). (Q1 '24)
2⃣ #MtGox: Emerging from a decade of insolvency, 138,000 BTC (valued at $5.8 billion) may surface in 2024. Distribution could happen before Q3, barring further delays. A portion will convert to fiat, while the rest will be distributed "in-kind." (Q2-Q3 '24)
3⃣ #Celsius: Around 38,000 BTC (worth $1.6 billion) are entangled in insolvency proceedings. A liquidation plan appears slated for late January. (Q1 '24)
4⃣ #BitcoinMiners: Miners are hoarding about 32,000 #BTC (valued at $1.35 billion) in anticipation of the next halving. Expect these to gradually hit the market throughout 2024. Keep in mind, this figure only represents reported holdings from U.S. miners; the global miner stash could be substantially larger. (Q1-Q2 '24)
5⃣ US Government: Holding a cache of 194,188 BTC (worth $8.3 billion) from criminal seizures. These are methodically sold off in periodic batches.
In the grand scheme, a multitude of factors contribute to the selling pressure on #Bitcoin. It's essential to recognize that each seller operates on its unique timeline, mitigating the immediate impact.
Theft of Bitcoin that topped $3 billion in value leads to one-year prison sentence for James Zhong: 'I always knew what I did was wrong' - FORTUNE
#bitcoin#silkroad https://t.co/vUN2GOqKy6
Crypto miner Argo Blockchain revenues jump with bitcoin production on the rise and its new Texas facility almost ready to go
via https://t.co/qwQoZEnuG8
#argo#argoblockchain#bitcoin https://t.co/AXs8rYUdEj