- The US government sold 9,861 bitcoin on 14 March, bringing in over $215 million.
- 41,490 BTC remain from the 51,000 taken in November and will be sold in four batches this year.
- Court records reflect that bitcoin is connected to the darknet market Silk Road.
The US government, which said it recently sold 9,861 bitcoin (BTC), is reportedly looking to liquidate another 41,500 BTC prior to the end of the year.
In accordance with the documents submitted in court, the sale is for Bitcoin seized from entities linked to the notorious darknet marketplace Silk Road. The sale will be done in four batches this year.
US government sold over $215 million worth of BTC
Court paperwork shows that the US government earned more than $215 million when it sold 9,861.17 BTC from the 51,351 bitcoin taken last November.
The liquidation occurred on 14 March, the court filing states, with this particular tranche of BTC forfeited by James Zhong following his apprehension and arraignment over wire fraud related to Silk Road.
A total of 41,490 BTC remain from what was seized from Zhong, which the US government now intends to sell in four tranches. Justin Sun, the founder of Tron (TRX), says the US government should sell the BTC to him at a 10% discount through an OTC deal.
US government has declared its intention to market an additional 41,500 #BTC this year. To minimize the potential impact on the market, I would like to offer to buy these BTC at a 10% discount for an OTC deal.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 31, 2023