The United States government plans to liquidate more than 41,000 Bitcoin seized as part of the case against Silk Road creator Ross Ulbricht.
A March 31 filing with U.S. District Court for the Southern District of New York regarding the case against James Zhong said U.S. government authorities had begun liquidating roughly 51,352 Bitcoin seized in the Ulbricht case. According to the filing, officials sold roughly 9,861 BTC for more than $215 million on March 14, leaving roughly 41,491 BTC.
"The Government understands [the Bitcoin] is expected to be liquidated in four more batches over the course of this calendar year," said the court filing.
Please do . I'm ready to buy at a discount !
Fine, cheaper prices incoming to scoop up some sats!
A filing regarding the sentencing of James Zhong stated U.S. government authorities had begun liquidating roughly 51,352 BTC seized in the Ulbricht case. According to the filing, officials sold roughly 9,861 BTC for more than $215 million on March 14, leaving roughly 41,491 BTC.
~ $1.2 billion
So the US government is going to take profit from Bitcoin is this not money laundering? Just because it's government doesn't mean it's not a crime. This is why the Chinese Yuan has become the new reserve currency. Bitcoin = Financial Freedom from all fiat, paper money.
Good
So they are gona sold a good commoditie for paper money 🤡
Will they use the revenue generated from the sale to offset the balance sheet?
🧹
Hypocritical much....
Great! Now that they are actively trading Bitcoin, it'll makes it all the more difficult for them to 'ban' it, lol.
Yet another FUD is circulating.
How can I get in on this sale?
Can we speculate that there is a deliberate attempt to undermine Bitcoin's credibility? Is it possible that they sell their holdings just before a major crypto rally? Will they resist investors seeking refuge in BTC if a recession is declared and the banking industry crumbles?
This was designed to scare people while they discreetly accumulate Bitcoin behind the scenes
A fool and his BITCOIN are easily parted.
It will interesting to see what impact this has on the valuation of BTC when it happens.
16 billion
Someone must be tight for cash
good stuff
What is Silk Road
Oeeeeeeeh scary
Buy the dip