In a move that could shake up the cryptocurrency market, the US government has been given the green light to liquidate thousands of bitcoins seized during the operation against the infamous Silk Road black market.
The US Supreme Court decided not to review the case regarding 69,370 bitcoins seized from the Silk Road marketplace. The Court confirmed that the US government can dispose of the bitcoins, valued at $4.329 billion, seized in 2022.
On October 7, the US Supreme Court declined to hear Battle Born Investments' case regarding the ownership of 69,370 BTC ($4.33 billion) seized from #SilkRoad, giving the government full control over the confiscated funds.
The last time the US government moved BTC was 2 months ago, when it moved 29.8K BTC ($2.02B), of which 10K BTC ($594M) was transferred to CoinbasePrime.
The US government currently holds 203,239 BTC ($12.63B), of which 69,370 BTC ($4.33B) related to SilkRoad 'Individual X' has remained untouched in the 'bc1qa5' wallet for 4 years.
What will the US government do, hold those#BTCor do like the German government, which liquidated all seized Bitcoins?
#SilkRoad #Bitcoinâ #BTCâ #HBODocumentarySatoshiRevealed #BTCReboundsAfterFOMC $BTC
