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U.S. Government Moves $300 Million Worth of Bitcoin Related to Silk Road Seizure


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Alex Lari

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In a series of transactions on July 12, a bitcoin address linked to the United States Department of Justice (DOJ) moved around 9,825.25 bitcoin, equivalent to approximately $299 million.

The bitcoin in the address is known to originate from United State’s infamous seizure of Silk Road assets.

Related reading : US Government Holds More Bitcoin Than MicroStrategy and Tesla Combined Thanks to Silk Road Seizures

It is currently unknown whether these transactions were intended for sale on exchange platforms or if the bitcoin is still held by the DOJ, as they eventually spread across at least 101 new wallets.

At around 1:00 pm UTC, there were two transactions involving approximately 9,825 bitcoin that were initially linked to the Silk Road seizure. These transactions were sent to three addresses.

The majority of the coins, which amounted to 8,200 BTC valued at nearly $250 million at the time of this article’s publication, were transferred to a single address. About an hour after this transfer, the total amount was divided among 101 different addresses.

Earlier, the U.S. government had announced its intention to sell the remaining bitcoin from the Silk Road seizure in four separate batch transactions over the remainder of the calendar year.

The U.S. government’s intentions from spreading its bitcoin holdings, which currently encompass over 800 wallet addresses, remain undisclosed and uncertain.

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