As Bitcoin prepares for a $210,000 government BTC sell-off, is Bitcoin BSC ($BTCBSC) the best alternative after a $5 million fundraising?

The price of bitcoin could be about to get a lot worse if the US government starts selling btc to deplete its balance of 210,000 coins, and bitcoin alternatives like bitcoin BSC They could be the beneficiaries.

The United States government is the largest sovereign holder of bitcoin globally. Data and analytics site btc&m=distribution.BalanceUsGovernment”>glass node says the US government holds 210,429 btc.

In other words, its balance amounts to almost 1% of the token supply. But given that the circulating supply is 19,495,404, minus the 4 million bitcoins that are estimated to have been “lost,” the US government owns 1.35% of the coins available on the market right now. .

Glassnode estimates that the lost and accumulated coins together amount to more than 7.87 million btc, which it calculates by by subtracting the ‘liveness’ (ratio between stored coin data and days of coins created) from 1 and multiplying the result by the circulating supply.

That equates to 11.62 bitcoins effectively available for trade, bringing the share of the US government’s total effective circulating supply to 1.8%.

Will history repeat itself with a 10% drop in the price of bitcoin?

Any way you look at it, the US government has enough Bitcoins to move the price dramatically if it decides to sell. The US sovereign holding has not fallen below 200,000 since April 2022.

The last sales were in March and July. Both groups of transactions were related to the hoard of bitcoins acquired when the FBI shut down the Silk Road dark web marketplace run by Ross Ulbricht.

bitcoin was priced at $22,216 on March 8 when security firm Peckshield discovered that government bitcoin was on the move, with at least one transaction traced to a Coinbase wallet. Two days later, on March 10, the price of bitcoin had fallen almost 10% to $20,187.

#PeckShieldAlert 49k $btc (worth $1 billion) of wallets related to U.S. government police seizures have been transferred to #Coinbase (~9.8k $btcvalued at 217 million dollars), bc1qf2…fsv (30,000 $btc) & bc1qe7…rdg (9k $btc) #Silk Road pic.twitter.com/4MzlvDzkut

– PeckShieldAlert (@PeckShieldAlert) March 8, 2023

For those who are interested (and you probably should be), you can track the US Department of Justice’s portfolio sales. btc/bc1qmxjefnuy06v345v6vhwpwt05dztztmx4g3y7wp”>here

Other large sovereign holders of bitcoins are China, Ukraine, El Salvador, Finland, and Georgia, as shown in the table below.

Sovereign bitcoin Treasurys

Or is the US government maximally bullish on bitcoin?

Of course, there is a contrary reading of the situation, which could interpret the US government’s relative inaction in depleting its bitcoin reserves as a sign that it is becoming a hodler.

If that were the correct assessment, then it would be hugely bullish for bitcoin. Holding bitcoin in the medium and long term indicates that the holder expects the price to rise in the future.

However, an investor doing his or her due diligence must consider all options. Given what we know about the attitude of US government agencies toward bitcoin, we can probably assume that they don’t believe btc is an asset class the government should own.

In fact, the government probably doesn’t even think of it as an asset class. If that’s the consensus in the government, chances are the United States is waiting for the right time to sell, and that could be sooner rather than later.

With that conclusion in mind, it might be wise to start looking at some alternatives to bitcoin.

The best alternative to bitcoin: bitcoin BSC ($BTCBSC)

The top of the watch list should be bitcoin BSC, which calls itself ‘bitcoin on BNB Smart Chain’. The share-to-win project has raised $5 million with only $1 million left to raise in its pre-sale.

Like bitcoin, $BTCBSC has a total token supply of only 21 million tokens. In fact, bitcoin BSC dates back to April 2011, when bitcoin was priced at $0.99.

Relive the early days of bitcoin creation with #BitcoinBSC!

Take a trip back to April 2011, when bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin It was simply 99 cents each.

Join us on this nostalgic journey and discover the accessibility of the market like never before. pic.twitter.com/afrE9yfDhF

– Bitcoinbsc (@Bitcoinbsctoken) September 22, 2023

In the last 24 hours, approximately $500,000 has been raised as the pace of execution accelerates. That pace is only expected to increase as the pre-sale gets closer to the finish line, meaning it could end within days.

bitcoin BSC Stake Can Earn 103% APY

Helping generate interest in the token is its staking functionality. Buy and bet today and you can earn 103% Annual Percentage Yield (APY). So far 2,539,568 $BTCBSC tokens have been staked. You can monitor how many token holders are staking by visiting the website in real time. bitcoin BSC Staking Dashboard.

Doing the math, it means that half of the total number of $BTCBSC sold is staked. The good thing about this is that when coins are listed, new and existing token holders have the comfort of knowing that any selling pressure that may arise will be limited by the proportion of coins staked.

Another advantage is that the project Smart contracts are audited.and the team guarantees that there will be locked liquidity for the trading pair when it is listed on decentralized exchanges.

Pre-mined $BTCBSC tokens are released at a rate of 0.25 $BTCBSC per block in an issuance schedule that copies bitcoin back in time to 2011.

Staking rewards are paid in $BTCBSC every 10 minutes similar to the bitcoin blockchain, but at a rate of 0.25 per bitcoin BSC block.

To buy and stake during the pre-sale you must pay for your tokens with BNB.

To stay up to date with the latest developments and price milestones, potential buyers should periodically register on the website and follow the instructions of bitcoin BSC. X (formerly Twitter) account and join the telegram group.

bitcoin BSC: is it coming to 100x?

bitcoin BSC is part of a new trend where derivative clone coins take advantage of the version 2.0 theme and staking utility.

Because $BTCBSC runs on BNB Smart Chain, if you want to start staking while the pre-sale is still in progress, you must purchase with BNB or USDT BEP-20.

Staked $BTCBSC has a seven-day withdrawal lock, after which tokens can be withdrawn at any time. Those who start staking after $BTCBSC appears on decentralized exchanges will be able to stake their tokens regardless of whether they purchased with BNB or eth.

bitcoin BSC stands out in the crowded ‘version 2’ space, where version 2 clones of meme coins, such as Pepe 2.0, Dogecoin 2.0, Shiba Inu 2.0 or even similar to bitcoin 2.0, lack utility value.

Relatively Small Allocation to bitcoin BSC Could Pay Off Winnings of 5x or even 100x as we move into the halving cycle, putting life-changing gains at stake.

US-based cryptocurrency-focused hedge fund btc%20halving”>Pantera Capital predicts that the next cycle could send bitcoin to $147,000.

The bitcoin block reward halving occurs every four years and has always heralded an upward trend for the leading cryptocurrency. As a result, bitcoin-derived coins like bitcoin BSC are sure to get a bid.

Joe Parys Cryptocurrency YouTube ChannelWith over 300,000 subscribers, consider $BTCBSC as one of the five bitcoin alternatives to see a price explosion.

Another YouTube crypto analyst has invested $840 in BTCBSCattracted by the APY and the token’s price appreciation potential.

For No Bs cryptocurrencies With 33,000 subscribers, bitcoin BSC is an “altcoin to buy” because it could be the next bitcoin.

Coverage on major crypto sites has helped spread the word, including but not limited to bitcoin-bsc-coin-repeat-bitcoin-173700907.html”>Yahoo Finance, bitcoin-alternative-projects-on-the-crypto-market-in-2023″>Cointelegraph, bitcoin-bsc-secures-3-million-in-fundraising-presale-hits-50-of-hard-cap-as-demand-rises/”>Bitcoinist, bitcoin-bsc-surges-past-3-million-in-just-two-weeks-of-presale/”>CryptoPotato, bitcoin-bsc-presale-hits-2-million-milestone-as-bitcoin-price-climbs-3/”>The Republic of Currencyand bitcoin-cash-has-pumped-10-in-a-week-as-bitcoin-bsc-hits-3-million-202309191149″>Street FX.

Active crypto observers are focusing on bitcoin BSC and there is still time to get involved.

Plug your wallet into the bitcoinbsc.io website to buy $BTCBSC with BNB, eth or USDT. The minimum purchase amount is $10.