US government sold about 9861 BTC of the 51,351 that was seized from the Silk Road Crime which was executed by James Zhong.
Highlights
- US government sold $215 million worth of Bitcoin from the Silk Road loot that was seized in November last year by the Feds.
- According to a memo filed in court, the government sold close to 20% of the BTC and is looking to liquidate the rest throughout the year.
- The government also revealed that the remaining 41,490 BTC would be sold over the course of the year in four rounds.
- The US government still holds more BTC than Microstrategy and Tesla combined which accounts for over 1% of Bitcoin in circulation.
- This was termed the “largest cryptocurrency seizure to date” by the United States Department of Justice as it was valued at $4 billion at the time of seizure.
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