🚨 Legal Update 🚨

📆 On Dec 20, a U.S. appeals court finalized the forfeiture of 69,370 Bitcoins tied to Silk Road. Ross Ulbricht, the founder and 'Individual X' were named. The U.S. govt. now holds control, following a hacking incident outlined in the initial complaint.

🔐 Silk Road's founder, Ross Ulbricht, serving a life sentence, established the dark web marketplace from 2011-2013. The recent forfeiture of 69,370 Bitcoins underscores the government's authority over seized digital assets.

💰 In 2022, Ulbricht agreed to allocate $3B worth of stolen Bitcoin to settle debts with the U.S. government, forfeiting rights to 69,470 Bitcoins. A wallet holding 69,369 BTC saw its first movement since 2015.

🤔 Will the U.S. govt. hold or sell the BTC?

Despite selling 10,000 Bitcoins in March, with Bitcoin prices rising 100% in 2023, analysts suggest holding. Bullish sentiment surrounds a potential Bitcoin ETF approval and the 2024 Bitcoin halving, with price targets of $100K and beyond.

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