US authorities plans to promote 41K Bitcoin related to Silk Highway

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The US authorities plans to liquidate greater than 41,000 Bitcoin seized as a part of the case in opposition to Silk Highway creator Ross Ulbricht.

A March 31 submitting with U.S. District Court docket for the Southern District of New York concerning the case in opposition to James Zhong mentioned U.S. authorities authorities had begun liquidating roughly 51,352 Bitcoin (BTC) seized within the Ulbricht case. In line with the submitting, officers bought roughly 9,861 BTC for greater than $215 million on March 14, leaving roughly 41,491 BTC.

“The Government understands [the Bitcoin] is expected to be liquidated in four more batches over the course of this calendar year,” mentioned the courtroom submitting.

This can be a creating story, and additional data might be added because it turns into obtainable.