The US authorities has been promoting bitcoin confiscated from the Silk Highway case in 2013. In response to a courtroom submitting, the federal government offered 9,861.1707894 Bitcoin on March 14, 2023, for a complete of $215,738,154.98. After transaction charges, the online proceeds for the federal government had been $215,522,416.83. The federal government additionally revealed that there are nonetheless round 41,490.72 bitcoin left to be offered, which they plan to promote in 4 extra batches over the course of this yr.
Beforehand, the federal government has auctioned bitcoin, opting as an alternative to proceed with open market gross sales this time.
The Silk Highway was a darknet market that was used to promote medication, amongst different providers. Ross Ulbricht, the founding father of the Silk Highway, was convicted in 2015 and sentenced to life in jail. Ulbricht now seeks clemency, as a double life sentence with out parole for totally non-violent expenses illustrates the federal government’s want to make an instance of those that construct platforms outdoors their jurisdiction.
Bitcoin Journal lately opened an artwork gallery in Nashville, Tennessee, which presently homes a life-size jail cell Ross Ulbricht exhibit, together with artwork that Ulbricht made in jail, in addition to writing from ulbricht.
Bitcoin’s worth motion as of late has been thrilling for many who watched 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 buying it.
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