They can only sell once pic.twitter.com/i0rZMpuiS0 — Alistair Milne (@alistairmilne) June 26, 2024 For context, during his tenure as Chancellor of the Exchequer from 1997 to 2007, Gordon Brown made the decision to sell approximately 60% of the UK’s gold reserves between 1999 and 2002, a period known as the “Brown Bottom.” Related Reading: Bitcoin Selloff: German Gov’t Offloads Another $67 Million As Price Wobbles The sales were conducted in a series of auctions at prices that ranged between $256 and $296 per ounce—significantly below the gold price in subsequent years, which saw a substantial rise.
Germany & America are making far worse mistakes by selling seized BTC now.They can only sell once.” Government selling is bullish Gordon Brown famously sold the UK’s Gold reserves for less than $300/ounce.
Why This Is Bullish For Bitcoin (Long-Term) Travis Kling, founder of Ikigai Asset Management, remarked on the synchronicity of these events.“All at the same time—US Govt selling seized Silk Road Bitcoin, US Govt selling seized Banmeet Singh BTC, German Govt selling seized Movie2k BTC, Mt Gox distributing BTC after a decade.
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