The US Government Sold Nearly 10,000 Silk Road Bitcoin

Uncle Sam made disconnected with much than $215 cardinal this period arsenic it began to liquidate portions of seized bitcoin.

The United States authorities has been selling bitcoin confiscated from the Silk Road lawsuit successful 2013. 

According to a court filing, the authorities sold 9,861.1707894 Bitcoin connected March 14, 2023, for a full of $215,738,154.98. After transaction fees, the nett proceeds for the authorities were $215,522,416.83. The authorities besides revealed that determination are inactive astir 41,490.72 bitcoin near to beryllium sold, which they program to merchantability successful 4 much batches implicit the people of this year.

Previously, the authorities has auctioned bitcoin, opting alternatively to proceed with unfastened marketplace income this time.

The Silk Road was a darknet marketplace that was utilized to merchantability drugs, amongst different services. Ross Ulbricht, the laminitis of the Silk Road, was convicted successful 2015 and sentenced to beingness successful prison. Ulbricht present seeks clemency, arsenic a treble beingness condemnation without parole for wholly non-violent charges illustrates the government’s tendency to marque an illustration of those who physique platforms extracurricular their jurisdiction.

Bitcoin Magazine precocious opened an art gallery successful Nashville, Tennessee, which presently houses a life-size jailhouse compartment Ross Ulbricht exhibit, including creation that Ulbricht made successful prison, arsenic good arsenic penning from ulbricht.

Bitcoin’s terms enactment arsenic of precocious has been breathtaking for those who watched it autumn from all-time highs of $69,000, to section lows of little than $16,000. While the authorities has been selling bitcoin, different institutions like MicroStrategy person been acquiring it.