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Adam Back Says US Government Selling Bitcoin Is Good for HODLers
Bitcoin (BTC) has recently become the topic of controversy, with reports that the US government has begun the process of selling 30,000 BTC seized from Silk Road. In a post on X, Adam Back, co-founder and CEO of Blockstream stated that such sales could potentially be beneficial for long-term Bitcoin holders, widely known as “HODLers”.
Adam Back’s View Point on the Bitcoin Sales
Notably, hodlers refers to long-term investors who buy and hold cryptocurrencies regardless of the price. By using the “hodling” strategy, investors can profit from long-term value appreciation while avoiding losses due to the short-term volatility of cryptocurrencies.
According to Back, the US government’s Bitcoin sales might become beneficial to Bitcoin hodlers if the government sell and print more USD in the future. He jokingly admitted that he would have hodled Bitcoin himself, implying that anyone who did s
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