There is a Serious New Claim About the US Government’s Massive Bitcoin Stockpile
According to allegations, the United States government has been authorized to sell 69,370 Bitcoins (BTC) worth approximately $4.33 billion that were seized from Silk Road’s ‘Individual X’ individual.
This development comes after a decision by the U.S. Supreme Court on Oct. 7, according to blockchain analytics firm Lookonchain.
The Supreme Court has refused to hear a case filed by Battle Born Investments, a company that disputed ownership of seized Bitcoin. With this refusal, the government now has full control over assets connected to the Silk Road case. The official court ruling can be accessed here.
The last time the US government moved Bitcoin assets was two months ago when it transferred 29,800 BTC worth $2.02 billion, of which 10,000 BTC (worth $594 million) were sent to Coinbase Prime. The movement of these assets was tracked and verified by Arkham Intelligence, as seen on their platform here.
The US government currently holds a total of 203,239 BTC worth $12.63 billion. Of this amount, 69,370 BTC linked to ‘Individual X’ from Silk Road have been sitting untouched in the ‘bc1qa5’ wallet for the last four years. With the recent court ruling, these funds are now open to liquidation, according to Lookonchain.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street remains bullish as S&P 500 maintains double-digit expected returns in 2025
Share link:In this post: Wall Street nearly unanimously anticipates double-digit gains for the S&P 500 in 2025. Today, the S&P 500 reclaimed the pivotal $6K level after adding almost $900B in market cap in 2025. FactSet data showed that the S&P 500 was expected to rise by 14% in 2025 following a surge in U.S. stocks last year.
US stock market’s concentration hits all-time high. Is that a problem for crypto?
Share link:In this post: Just 26 stocks now control half the S&P 500’s value, with tech giants like Nvidia leading the pack. The stock market’s extreme concentration is making diversification feel like a joke. Bitcoin is showing signs of breaking free from its historical link to US stocks, climbing 10% to $102,000.
SONICUSDT now launched for futures trading and trading bots
TRM Labs exec likens excitement about crypto under Trump to ‘space race’ hype
TRM Labs head of legal and government affairs Ari Redbord said a Strategic Bitcoin Reserve could boost the value of BTC and trigger a global trend.