US govt plans to sell 41,490 BTC connected to Silk Road

• The US govt supplied 9,861 bitcoin on 14 March, netting over $215 million.
• 41,490 BTC dwell from over 51,000 seized in November and can merely be supplied in four batches this yr.
• Court paperwork portray that bitcoin is connected to the darknet market Silk Road.

The US govt, which says it currently supplied 9,861 bitcoin (BTC), is reportedly making an try to liquidate one more 41,500 BTC sooner than the quit of the yr.

In response to paperwork filed in court docket, the sale is for Bitcoin seized from entities connected to the sinful darknet market Silk Road. The sale will occur in four batches this yr.

US govt supplied over $215 million value of BTC

Court paperwork portray that the US govt netted over $215 million when it supplied 9,861.17 BTC out of the 51,351 bitcoin seized final November. 

The liquidation occurred on 14 March, the court docket submitting indicates, with this particular tranche of BTC forfeited by James Zhong following his arrest and arraignment over wire fraud linked to Silk Road.

A total of 41,490 BTC dwell from what changed into seized from Zhong, which the US govt now plans to sell in four tranches. Justin Solar, the founder of Tron (TRX), says the US govt would possibly per chance perhaps perhaps merely peaceful sell the BTC to him at a 10% decrease value thru an OTC deal.

US govt has presented its arrangement to sell an further 41,500 #BTC this yr. To prick the potential impression obtainable on the market, I would opt to provide to occupy these BTC at a 10% decrease value for an OTC deal.

— H.E. Justin Solar 孙宇晨 (@justinsuntron) March 31, 2023