US Government Silk Road Bitcoin Holdings Drop To 0 Amid Report DOJ Approved To Sell $6.5 Billion Worth Of Crypto

The U.S. government has received approval to liquidate a significant portion of its Bitcoin (CRYPTO: BTC) holdings seized from the infamous darknet website Silk Road, according to a Wednesday report.

What Happened:  The Justice Department was cleared to sell 69,370 Bitcoins, valued at approximately $6.5 billion, by a federal judge, DB News reported, citing officials.

The report mentioned the DOJ citing the price volatility as a reason for pushing for permission to sell the assets.

The DOJ did not immediately respond to Benzinga’s request for confirmation.