It is kind of ironic that the US government-owned more Bitcoin than Michael Saylor who is a kind of Bitcoin priest. The US government has been busy selling Silk Road Bitcoin but it has loads more to liquidate over the course of the year. Interesting the Justin Sun has offer to purchase these BTC at a 10% discount for an OTC deal and you should know that the US government has already dumped 9,800 on March 14th.
The United States government supposedly still have 1.2 Billion dollars worth of Bitcoins but it seem they are doing that over the counter. We are still seeing deposits withdraw from the US system and actually contradictory Germany, I think just reached a high in terms of depositors or that's it local high.
I think the US is in real trouble because they can't go on in the same manner. You are trying to tighten and increase the amount of money you need to service this colossal debt market. It is just unsustainable and this is why we are seeing things break. This is why I think that they are not going to rate up rates anymore because they are imploding the system. You are still seeing bank runs but you are seeing depositors taking money out of the making system.
We have Optimism which is the second biggest layer Network and they are launching a major upgrade called Bedrock. This is going to allow for lower fees as well as for Optimism to be able to integrate zk Roll-up technology. The development we are seeing layer 2 scene right now for Ethereum are very exciting. So much competition is a good thing because we are going to get better products from all this competition.
There are few massive tech upgrade that are coming soon after the Shanghai upgrade unlocks the staking stuff. The first of those is directly related to the layer 2 conversation which is called Proto dank sharding. This is going to lower fees for all layer two using Ethereum which will make the Ethereum layer too much. This makes Ethereum layer twos much more scalable and it will drive us one step closer to mainstream Global adoption of Ethereum as a settlement layer on the internet because no one wants to pay 200 to make a trade on Uniswap. We have Account Abstraction which is the second big upgrade. This is something zk sync is spreading doing, Solana is also doing that as well but the main Ethereum chain is soon going out with this major upgrade.