#btc ⚠️⚠️ Justice Department clears sale of $6.5 billion in bitcoin seized from Silk

• A federal judge ruled Dec. 30 that the Justice Department can sell 69,370 bitcoins seized from the Silk Road darknet marketplace, officials confirmed.

• A years-long ownership dispute over the seized bitcoin ended after Battle Born Investments lost its bid to delay the sale. The group had claimed ownership through a bankruptcy estate and recently lost a related FOlA case seeking to reveal the identity of “Individual X” who initially gave up the bitcoin.

• Battle Born’s attorney called it “another egregious example of the Justice Department’s abuse of the civil asset forfeiture process,” saying the government “relied on procedural deception to ensure the facts were never heard.”

• The Justice Department cited Bitcoin’s price volatility in pushing for permission to sell the assets. Asked about next steps, a Justice Department spokesperson said, “The government will proceed further consistent with the judgment in this case.”

• The seized Bitcoin is currently valued at about $6.5 billion.