{"id":616695,"date":"2025-01-09T09:17:11","date_gmt":"2025-01-09T09:17:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=616695"},"modified":"2025-01-09T09:17:11","modified_gmt":"2025-01-09T09:17:11","slug":"us-government-dumps-6-5-billion-silk-road-bitcoin-stash-after-doj-greenlight","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/us-government-dumps-6-5-billion-silk-road-bitcoin-stash-after-doj-greenlight","title":{"rendered":"US Government Dumps $6.5 Billion Silk Road Bitcoin Stash After DoJ Greenlight"},"content":{"rendered":"

The US government sold $6.5 billion worth of Bitcoin that was seized from popular dark web marketplace Silk Road after the US Department of Justice (DoJ) approved the sale.<\/span><\/p>\n

The<\/span> DoJ gave the government the green light to sell the 69,370 seized BTC on Dec. 30, citing price volatility as a reason for the approval. <\/span><\/p>\n

\"Bitcoin\"<\/p>\n

Silk Road Bitcoin Sell Off Comes Days Before Donald Trump Takes The White House<\/span><\/h2>\n

Hours after receiving the approval from the DoJ, the balance of the wallet that held the seized assets dropped from $6.5 billion on Jan. 8 to zero, according to data from on-chain analytics platform Arkham Intelligence.<\/span><\/p>\n

The sell off comes just days before incoming US President <\/span>Donald Trump<\/span><\/a> is set to enter the White House for a second term. Pro-crypto Trump’s inauguration will take place on Jan. 20. Last year, the President-elect said that he would form a strategic Bitcoin reserve with the BTC seized from Silk Road. <\/span><\/p>\n

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Maybe we’ll all get the chance to buy Bitcoin at a discount! https:\/\/t.co\/d16TnQ9SAl<\/a><\/p>\n

— Nayib Bukele (@nayibbukele) January 9, 2025<\/a><\/p><\/blockquote>\n