I think it would have a slight negative impact on the market as we all know when the government gets involved it is always bad. I would bet they will sell them for a fraction of their value just like they do with asset forfeiture, But this time its bitcoin.
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It's an auction. They're selling for whatever people will pay.
Anyone bidding on this that is intelligent will pay any price up to the value of those wallets. So, while a relatively large, publicized increase to the supply of BTC might lead to a small drop in value, it also has the potential to publicize BTC, leading to greater demand in the long term.