Uncle Sam acquired away with greater than $215 million this month when it started liquidating a few of the seized bitcoin.
The US authorities has bought bitcoin confiscated from the Silk Street case in 2013.
Based on a lawsuit, the federal government bought 9,861.1707894 Bitcoin on March 14, 2023, for a complete of $215,738,154.98. After transaction charges, the online proceeds for the state have been $215,522,416.83. The federal government additionally revealed that there are nonetheless about 41,490.72 bitcoins left to promote, which it plans to promote in 4 extra heaps over the course of this 12 months.
Up to now, the federal government has auctioned bitcoin, selecting as an alternative to proceed with gross sales on open markets this time.
Silk Street was a darknet market used to promote medicine, amongst different providers. Ross Ulbricht, the founding father of the Silk Street, was convicted in 2015 and sentenced to life in jail. Ulbricht is now in search of clemency, as a double life sentence with out parole for solely non-violent fees illustrates the federal government’s need to make an instance of those that construct platforms outdoors their jurisdiction.
Bitcoin Journal just lately opened an artwork gallery in Nashville, Tennessee, which at the moment homes a life-size Ross Ulbricht exhibit, together with artwork that Ulbricht created in jail, in addition to writing from Ulbricht.
Bitcoin’s current value motion has been thrilling for many who noticed it fall from all-time highs of $69,000 to native lows of lower than $16,000. Whereas the federal government has been promoting bitcoin, different establishments like MicroStrategy have been shopping for it.
