The US Marshals Service will hold an auction to sell the bitcoins confiscated from Silk Road
Date: 2025-01-10 Author: Gabriel Deangelo Categories: IN WORLD
The total value of these crypto assets is $6.5 billion. After the news was announced, the price of bitcoin briefly dropped from $95,300 to $92,500.
According to analysts from the Arkham platform, the sale of such a large amount of bitcoins will not create significant problems for the market. In their opinion, this will be the fourth such sale since 2014, and previous auctions have shown that such actions have a minimal impact on the market value of the cryptocurrency. Moreover, the community usually perceives such events as a step towards legitimizing bitcoin and recognizing it as an investment instrument.
The procedure for selling Silk Road assets itself will take several months. Recall that the US government currently holds 207,189 bitcoins, valued at $19.5 billion, according to Bitcoin Treasuries.
Earlier, the US Supreme Court rejected a lawsuit filed by Battle Born Investments, which claimed the right to dispose of these crypto assets, giving federal authorities final permission to sell them.
