Silk Road has 69,000 bitcoins for sale? What impact will it have on the market?
Just ten days after the US government once again promised to provide Ukraine with $6 billion worth of military security assistance, the US Department of Justice is preparing to start liquidating a huge amount of Bitcoin assets.
One of the most influential development milestones in Bitcoin history: Silk Road
In October 2013, a young man named Ross Ulbricht was arrested in a San Francisco library. He used the alias "Dread Pirate Roberts" (DPR). At this point, the once-popular drug and arms trading website "Silk Road" was declared dead. In 2015, Ross Ulbricht was sentenced to life imprisonment.
How many bitcoins does the US government still have?
The number of bitcoins held by the US government is 207,189, accounting for 0.987%. According to the current Bitcoin price, the total value of Bitcoin held by the US government is $19,544,018,200.
The bet on "Will the US government sell Bitcoin before Trump takes office?" has become a popular bet, with a betting volume of $136,310 and a probability of selling Bitcoin before Trump takes office of 22%.
Given that Trump had previously promised to commute the sentence of Ross, the founder of "Silk Road", and repeatedly reiterated that he would make the United States the world's cryptocurrency capital and embrace cryptocurrency.
Therefore, most people believe that Ross may be commuted or even pardoned. It can also be seen on PolyMarket's betting topic on "Who will Trump pardon within 100 days of taking office?" Ross is very likely to be pardoned, and the probability of being pardoned is currently 73%.
Due to Trump's Bitcoin reserve commitment, if the US government does not sell it before Trump's official inauguration on January 20, the market speculates that the Bitcoin paid in the Silk Road case may not be sold.
