US government plans to sell 17.8 billion yen worth of Bitcoin related to Silk Road

10 months ago 49

Will there be selling pressure on Bitcoin?

The U.S. Department of Justice has filed a notice in court announcing its intention to destroy 2,934 BTC of bitcoins seized from the Silk Road dark web site. The notification was made on January 8th of this year, but the virtual currency media noticed it today.

These Bitcoins are currently worth $117 million, a level that should cause market alarm.

At this point, it is unclear whether it has already been disposed of.

Separately, 69,370 BTC ($2.76 billion) of Bitcoin, which was seized from Silk Road founder Ross Ulbricht in December, was also brought into the custody of the US Department of Justice. Furthermore, even before that, 41,490 BTC had already been managed.

connection: Final decision on U.S. government’s seizure of huge Silk Road Bitcoin, renewed interest in processing method

Market participants are closely monitoring the movement of these huge amounts of money, but no clear movements seem to have been confirmed at this time. On the other hand, in March last year, a portion of 9,861.17 BTC was sold.