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

The U.S. government is planning to sell 41,500 Bitcoin (BTC/USD) that it holds, according to court documents. This monumental sale, connected to the infamous Silk Road case, involves a substantial amount of cryptocurrency.

According to new court documents, the United States government is making plans to sell 41,500 Bitcoin. The Bitcoins are worth over $1.1 billion at the time of announcement.

What Happened: The U.S. government currently holds assets seized related to the Silk Road. Ross Williams Ulbricht, the brains behind the now-defunct darknet market website Silk Road, lost 9,800 Bitcoin (BTC), which the US government liquidated.

The US government is planning to sell 41,500 Bitcoin which are connected to the Silk Road, in four different batches this year. The Bitcoins are worth over $1.1 billion at the time of their valuation.

The United States government has revealed its plans to sell off a staggering $1.18 billion worth of Bitcoin (BTC) in total.

Following a sale of approximately 9,800 BTC earlier this month, the United States government intends to sell a further 41,490 BTC related to the Silk Road case in four tranches.

Stay updated on this significant event and its potential impact on the cryptocurrency market.