US Government Suspected to be Free to Sell 69,370 Bitcoins Confiscated from Silk Road

BlockBeats reported that on October 9, Lookonchain published a post stating that the U.S. government appears to be free to sell the 69,370 bitcoins confiscated from Silk Road after the U.S. Supreme Court on October 7 refused to hear Battle Born Investments’ case regarding the ownership of 69,370 BTC (about $4.33 billion) seized from Silk Road, giving the government full control over the seized funds.

The last time the U.S. government moved BTC was two months ago, when it moved 29,800 BTC (about $2.02 billion), of which 10,000 BTC (about $594 million) were transferred to Coinbase Prime.

The US government currently still holds 203,239 BTC (about $12.63 billion), of which 69,370 BTC (about $4.33 billion) related to Silk Road have been dormant in the wallet "bc1qa5" for 4 years.