The U.S. Department of Justice Approved the Sale of $6.5 Billion Worth of #BTC Seized from Silk Road

Officials confirmed that a federal judge ruled on December 30 that the Department of Justice (DOJ) can sell 69,370 BTC seized from the Silk Road dark web marketplace.

The years-long dispute over the ownership of these seized BTC has finally come to an end. Battle Born Investments lost its case and failed to successfully delay the sale. The company claimed ownership of these BTC through a bankruptcy estate but recently lost in a related Freedom of Information Act (FOIA) case seeking to reveal the identity of the "Person X" who originally surrendered the bitcoins.

Battle Born's lawyers described the situation as "another egregious example of the DOJ abusing the Civil Asset Forfeiture process" and accused the government of "relying on procedural tricks to ensure that the facts are never heard."

The DOJ cited the volatility of BTC prices as a reason to push for permission to sell these assets. When asked about the next steps, a DOJ spokesperson stated, "The government will continue to move forward with the relevant procedures based on the ruling in this case."

The currently seized BTC is valued at approximately $6.5 billion.

In simple terms, the U.S. Department of Justice has approved the sale of previously confiscated BTC, which has been held during the Biden administration. Although Trump mentioned plans to prevent the U.S. government from selling BTC, this would require a transition of power and support from Congress, so it has nothing to do with Trump, and he is powerless in this matter.

Many are concerned about whether this batch of BTC has been fully sold. Based on the currently known U.S. holding data, it appears that it has not been sold out. It may not have even started selling yet, as the DOJ has not provided any updates on the sale; if it had been sold, it would likely have been announced.

PS: The DOJ is unlikely to be making empty claims.

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