Uncle Sam made off with greater than $215 million this month because it started to liquidate parts of seized bitcoin.
The United States authorities has been promoting bitcoin confiscated from the Silk Road case in 2013.
According to a court filing, the federal government bought 9,861.1707894 Bitcoin on March 14, 2023, for a complete of $215,738,154.98. After transaction charges, the web proceeds for the federal government had been $215,522,416.83. The authorities additionally revealed that there are nonetheless round 41,490.72 bitcoin left to be bought, which they plan to promote in 4 extra batches over the course of this yr.
Previously, the federal government has auctioned bitcoin, opting as an alternative to proceed with open market gross sales this time.
The Silk Road was a darknet market that was used to promote medicine, amongst different providers. Ross Ulbricht, the founding father of the Silk Road, 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 prices illustrates the federal government’s need to make an instance of those that construct platforms exterior their jurisdiction.
Bitcoin Magazine not too long ago opened an artwork gallery in Nashville, Tennessee, which at the moment 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 individuals who watched it fall from all-time highs of $69,000, to native lows of lower than $16,000. While the federal government has been promoting bitcoin, different establishments like MicroStrategy have been buying it.