- The US authorities plans to unload 41,500 BTC in 4 batches this 12 months.
- Final month, 49,000 BTC of US authorities reserves have been transferred to different wallets.
- The federal government nonetheless holds 164,000 BTC seized from Silk Highway in wallets.
America authorities plans to unload 1000’s of bitcoins this 12 months. Bitcoins are linked to the James Zhong case and the favored darknet market Silk Highway. Community information exhibits a excessive stage of exercise in wallets that maintain government-confiscated BTC.
Networking actions have been highlighted Twitter Ki Younger Ju earlier at the moment. Ju is the founder and CEO of CryptoQuant, a blockchain analytics firm. Knowledge compiled by CryptoQuant exhibits that the US authorities moved 49,000 BTC to different wallets final month. By the best way, March 14 the federal government bought over 9,800 BTC for roughly $216 million.
A authorities submitting within the US District Court docket for the Southern District of New York revealed that the US authorities plans to liquidate 41,490 BTC in 4 batches over the course of a 12 months. This is able to successfully unload all 50,000 BTC that have been seized from Zhong final November.
“The federal government understands from the IRS Legal Investigation – Asset Restoration and Investigation Companies that the second liquidation section won’t be bought previous to Zhong’s sentencing date,” the courtroom submitting mentioned.
In line with Ki Younger Ju, the US authorities nonetheless has 164,000 BTC in wallets, bringing their complete to greater than 138,000 BTC owned by Michael Saylor’s MicroStrategy. In the meantime, Tron founder Justin Solar has proposed to buy US authorities 41.5 thousand BTC with a ten% low cost for the OTC transaction to scale back potential market impression.
