🚀 US ALLOWS LIQUIDATION OF 6.5 BILLION USD BITCOIN SEIZED FROM SILK ROAD

The US Department of Justice has been approved by the court to liquidate 69,370 BTC (worth 6.5 billion USD) seized from the Silk Road black market, despite newly elected President Donald Trump having previously pledged not to allow the federal government to sell Bitcoin. This decision was made on December 30, 2024, but has only just been announced.

⭐ Key Information

🟢 The US Department of Justice won the lawsuit against Battle Born Investments, which claimed ownership of the BTC through "Person X".

🟢 The Department of Justice argues that Bitcoin price volatility is a necessary reason for liquidating the assets.

⭐ Trump and Cryptocurrency Policy

🟢 Trump once promised to support cryptocurrency, including the possibility of establishing a strategic Bitcoin reserve fund from the seized assets.

🟢 The President stated the goal of driving the price of Bitcoin to 150,000 USD during his first term.

⭐ Previous Liquidation Activities

🟢 In March 2023, the US sold Bitcoin, raising 216 million USD.

🟢 In January 2024, a plan was announced to liquidate an additional 117 million USD in BTC but has not been updated.

⭐ Connection with Coinbase

🟢 From mid-2024, the US transferred BTC to Coinbase for custody, with a large total amount from Silk Road.

🟢 Currently, the US government owns 198,100 BTC (18.59 billion USD), along with many other cryptocurrencies. The price of Bitcoin is slightly decreasing after this information.