As it is known, the US government seized 207,189 Bitcoins linked to Silk Road, hacker Jimmy Zhong and cryptocurrency exchange Bitfinex hackers between November 2020 and 2022.
At this point, less than 5% of the Bitcoins seized by the US government to date have been sold.
According to Blockworks, in February last year, US authorities sent and sold 9,861 BTC, previously owned by Silk Road, to Coinbase.
The US government made this sale at an average price of $ 21,800 per BTC and earned $ 215 million in revenue.
Making a statement after the sale, US lawyers said that they planned to sell the remaining 41,491 Bitcoins from Silk Road (worth $ 1 billion at the time and $ 1.8 billion today) in four lots in the next calendar year.
Accordingly, there are only two months left until the deadline announced by the lawyers expires.
Last July, the US Department of Justice sent 8,200 of these Bitcoins to Coinbase (worth $252 million then, $350 million now). However, it has not been confirmed yet whether these BTCs have been sold and no official statement has been made.
If the BTCs sent to Coinbase have been sold, it means that one of the sales planned to be made in 4 parts may have been completed.
As a result, if the US government sticks to its plans, it will sell these BTCs, which have a current value of $ 1.8 billion, in the next 2 months.
The US government has the world’s largest Bitcoin stash, potentially surpassing El Salvador, Ukraine, Bhutan, Venezuela and Finland. However, the Chinese government, which seized 195,000 BTC ($8.4 billion) in 2020, may become a rival to the USA if it does not sell the BTCs it has.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/is-the-us-government-preparing-for-a-bitcoin-sale-time-is-running-out/