Allegations suggest that the US government has been given the green light to sell 69,370 Bitcoins (BTC) valued at around $4.33 billion, which were confiscated from the ‘Individual X’ associated with Silk Road. This claim follows a recent decision by the U.S. Supreme Court on October 7, as reported by blockchain analytics firm Lookonchain.
The Supreme Court’s refusal to hear a case brought by Battle Born Investments, a company contesting ownership of the seized Bitcoin, has granted the government full control over the assets linked to the Silk Road case. The official court ruling can be accessed here.
The most recent movement of Bitcoin assets by the US government occurred two months ago, when 29,800 BTC worth $2.02 billion were transferred. Among these, 10,000 BTC (worth $594 million) were sent to Coinbase Prime. The tracking and verification of these asset movements were conducted by Arkham Intelligence, as shown on their platform here.
Currently, the US government holds a total of 203,239 BTC valued at $12.63 billion. Out of this amount, 69,370 BTC connected to ‘Individual X’ from Silk Road have been untouched in the ‘bc1qa5’ wallet for the past four years. Following the recent court ruling, these funds are now eligible for liquidation, according to Lookonchain.
*This is not investment advice.
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