US Government to Sell 41,500 Bitcoin ($1.18 Billion) Connected to Silk Road

Just In: US Govt Sold 9,800 BTC on March 14, Intends to Sell a Further 41,500 BTC Connected to Silk Road in Four Batches Over the Course of the Year.

Due to its long history of seizures, the US government is one of the largest holders of bitcoin. According to court filings, the US government holds more than 2,05,000 BTC as of March 27. The numbers revealed that the US government is the largest holder of BTC.

Initially, the US government seized Bitcoin maintained by individual X, which is interconnected to the Silk Road marketplace. This left the US government with 69,369 BTC. It was also followed by the seizure of 50,000 bitcoins from James Zhong, who is again connected to the Silk Road.

Now, according to the details from the latest court documents the US government is planning to sell 41,500 Bitcoin connected to Silk Road.

Source: Watcher Guru