▶️The U.S. Department of Justice has been authorized by the court to sell $6.5 billion in Bitcoin seized from Silk Road

💵According to a ruling made on December 30, 2024, but only now announced, the U.S. Department of Justice has won the lawsuit over Bitcoin with Battle Born Investments, a company claiming ownership of the Bitcoin through 'Person X', who handed over this amount of BTC to the authorities of the land of liberty. A representative from the U.S. Department of Justice stated that the volatile nature of Bitcoin's price is the main reason for the agency's recommendation to liquidate the BTC.

💵In the past, the U.S. government has had many occasions to sell Bitcoin, with the most recent being in March 2023, raising $216 million. The United States also announced in January 2024 its intention to liquidate an additional $117 million in BTC, but no new updates have been provided yet.

💵By mid-2024, the U.S. Marshals Service reported that it had signed a custody agreement with Coinbase. Since then, U.S. officials' crypto wallets have frequently transferred funds to Coinbase, specifically 30,175 BTC ($2.1 billion) in April, 29,800 BTC ($2.02 billion) in July, and 10,000 BTC ($594 million) in August, and 19,780 BTC ($1.92 billion) in December. All of this BTC is believed to have originated from Silk Road.

💵According to statistics from Arkham, the U.S. government still holds over 198,100 BTC, valued at $18.59 billion, along with many other cryptocurrencies like ETH, USDT, WBTC, and various smaller altcoins.