{"id":6776,"date":"2025-01-09T10:31:42","date_gmt":"2025-01-09T10:31:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=6776"},"modified":"2025-01-09T10:31:42","modified_gmt":"2025-01-09T10:31:42","slug":"us-government-cleared-to-sell-silk-road-bitcoin-will-prices-dump","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=6776","title":{"rendered":"US Government Cleared to Sell Silk Road Bitcoin: Will Prices Dump?"},"content":{"rendered":"<div>\n<p>United States DoJ free to sell Silk Road Bitcoin after judge declines all appeals blocking the liquidation. Will BTC fall?<\/p>\n<p><span data-preserver-spaces=\"true\">Bitcoin <\/p>\n<style>\n    .cwp-coin-chart svg path {\n        stroke: ;\n        stroke-width: ;<\/p>\n<p>    }\n<\/style>\n<p>    <span class=\"cwp-coin-widget-container\" data-id=\"btc-bitcoin\" id=\"coin_widget_id_677fa41ccb0f4\"><\/p>\n<p>        <!-- name of the coin in the text --><br \/>\n        <span class=\"cwp-coin-widget-wrapper\" data-id=\"btc-bitcoin\"><br \/>\n            <span class=\"cwp-coin-widget-holder \" style=\"background: #e0e0e0; \"><br \/>\n                <span class=\"cwp-coin-name\" data-id=\"btc-bitcoin\"><br \/>\n                    <span class=\"cwp-coin-icon \"><img decoding=\"async\" src=\"https:\/\/cryptify-platform-dev.clickoutmedia.tech\/icons\/btc-bitcoin.png\" alt=\"btc-bitcoin icon\" width=\"16px\" height=\"16px\"><\/span><br \/>\n                    <span class=\"cwp-coin-label \"><\/span><br \/>\n                    <span class=\"cwp-coin-symbol hidden\"><\/span><\/p>\n<p>                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-price hidden\"><\/span><br \/>\n                    <\/span><br \/>\n                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-trend \"><\/span><br \/>\n                    <\/span><\/p>\n<p>                <\/span><br \/>\n            <\/span><br \/>\n        <\/span><\/p>\n<p>        <!-- popup with basic info about the coin --><br \/>\n        <span class=\"cwp-coin-popup-wrapper \" data-id=\"btc-bitcoin\" style=\"\"><br \/>\n            <span class=\"cwp-coin-popup-holder\"><br \/>\n                <span class=\"cwp-coin-name\"><br \/>\n                    <span class=\"cwp-coin-icon\"><img decoding=\"async\" src=\"https:\/\/cryptify-platform-dev.clickoutmedia.tech\/icons\/btc-bitcoin.png\" alt=\"btc-bitcoin icon\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-name\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-symbol\"><\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-price\"><br \/>\n                    <span class=\"cwp-coin-price-title\">Price<\/span><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-price-value\"><\/span><br \/>\n                        <span class=\"cwp-coin-trend-holder\"><br \/>\n                            <span class=\"cwp-coin-trend\"><\/span><br \/>\n                        <\/span><br \/>\n                    <\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-volume\"><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-volume-title\">Trading volume in 24h<\/span><\/p>\n<p>                    <\/span><br \/>\n                    <span class=\"cwp-coin-volume-value\"><\/span><br \/>\n                    <!-- <span class=\"cwp-coin-trend-holder\">\n                        <span class=\"cwp-coin-trend\">?<\/span> \n                    <\/span>                     --><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-chart\"><br \/>\n                    <span class=\"cwp-graph-title\">Last 7d price movement<\/span><br \/>\n                    <span class=\"cwp-graph-container\"><\/span><br \/>\n                <\/span><\/p>\n<p>            <\/span>           <\/p>\n<p>        <\/span><br \/>\n    <\/span><\/p>\n<p> is shaky at press time. Looking at price charts, the world\u2019s most valuable coin is down nearly 8% in three days and under pressure at press time. Although support remains at $90,000, events in the past day could trigger a wave of lower lows. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to a <a class=\"general-link\" href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.cand.368440\/gov.uscourts.cand.368440.173.0.pdf\" target=\"_blank\" rel=\"noopener\">December 30 court filing<\/a>, confirmed by DB News on January 8, Judge Richard Seeborg of the Northern District of California declined to hear Battle Born Investments and other claimants appeal over the ownership of 69,370 BTC worth over $4.33 billion.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The US Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today<\/p>\n<p>Interesting situation less than 2 weeks away from the new admin who vowed to not sell <a href=\"https:\/\/t.co\/HqD1KnhJK3\">https:\/\/t.co\/HqD1KnhJK3<\/a> <a href=\"https:\/\/t.co\/xn8ATSEL7H\">pic.twitter.com\/xn8ATSEL7H<\/a><\/p>\n<p>\u2014 db (@tier10k) <a href=\"https:\/\/twitter.com\/tier10k\/status\/1877176406905356670?ref_src=twsrc%5Etfw\">January 9, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">The decision effectively grants the Department of Justice (DoJ) complete control over the stash surrendered in 2020 by an unnamed individual with ties to the infamous \u201cSilk Road\u201d marketplace.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Silk Road was shut down by United States authorities in 2013. The marketplace allowed people to trade narcotics and arms illegally, with payment made in BTC. At that time, BTC was in its infancy.<\/span><\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/presales\/gamefi-project-illuvium-set-to-use-virtuals-g-a-m-e-ai-framework-to-power-its-games\/\" target=\"_blank\" rel=\"noopener\">GameFi Project Illuvium Set To Use Virtual\u2019s G.A.M.E AI Framework To Power Its Games<\/a><\/strong><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">The Silk Road Stash: Everything To Know About Dodgy BTC<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Following this news, Bitcoin prices dumped earlier today, reversing from around $95,000 to spot rates.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/www.tradingview.com\/x\/Uru1OYEi\/\" alt=\"United States DoJ free to sell Silk Road Bitcoin after judge declines all appeals blocking the liquidation. Will BTC fall?\" width=\"1827\" height=\"892\"><\/p>\n<p>(<a class=\"general-link\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" target=\"_blank\" rel=\"noopener\">BTCUSDT<\/a>)<\/p>\n<p><span data-preserver-spaces=\"true\">The reaction was expected. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Now that the legal battle mounted by Battle Born Investment has been concluded and the government controls the huge BTC stash, there are speculations that the coin could come under immense pressure in the coming weeks.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The United States government often sells crypto assets <a class=\"general-link\" title=\"Who is Mohammed Chhipa? Virginia Man Funds ISIS With Near $200K in Crypto\" href=\"https:\/\/99bitcoins.com\/news\/who-is-mohammed-chhipa-virginia-man-funds-isis-with-near-200k-in-crypto\/\" target=\"_blank\" rel=\"noopener\">confiscated<\/a> from bad actors and assets deemed to be proceeds of illegalities. For this reason, the government would likely liquidate this batch (and others), selling it to willing buyers. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In the past, the government tried to offload the <a class=\"general-link\" href=\"https:\/\/intel.arkm.com\/explorer\/address\/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6\" target=\"_blank\" rel=\"noopener\">Silk Road BTC<\/a> stash without success.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In 2022, the Department of Justice seized over 50,000 BTC and arrested James Zhong. In 2012, Zhong pleaded guilty to wire fraud for exploiting the Silk Road payment system.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-189782 size-full\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-12-1.png\" alt=\"United States DoJ free to sell Silk Road Bitcoin after judge declines all appeals blocking the liquidation. Will BTC fall?\" width=\"1907\" height=\"593\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-12-1.png 1907w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-12-1-300x93.png 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-12-1-1024x318.png 1024w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-12-1-768x239.png 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-12-1-1536x478.png 1536w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-12-1-50x16.png 50w\" sizes=\"auto, (max-width: 1907px) 100vw, 1907px\"><\/p>\n<p>(<a class=\"general-link\" href=\"https:\/\/intel.arkm.com\/explorer\/address\/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6\" target=\"_blank\" rel=\"noopener\">Source<\/a>)<\/p>\n<p><span data-preserver-spaces=\"true\">While there have been attempts to offload these coins, the government took a measured approach. In early 2023, they sold 10,000 BTC (out of the initial 50,000 BTC recovered from Zhong) for $216 million. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Then, it was decided that the remaining stash of 40,000 BTC was to be sold in four tranches throughout the year. However, there was not much follow-up.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With the judge declining all appeals, the government can now liquidate the 40,000 BTC and the over 69,000 BTC surrendered in 2020 in what would be the largest offloading in history\u2013assuming all of them are sold at once.<\/span><\/p>\n<p><strong>DISCOVER:<a href=\"https:\/\/99bitcoins.com\/news\/presales\/ai16z-explodes-25-amid-bitget-listing-and-wolf-of-wall-street-pepe-is-next\/\">\u00a0Ai16z Explodes +25% Amid Bidget Listing and Wolf of Wall Street Crypto Goes Viral<\/a><\/strong><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">All Eyes On Government Wallet Addresses: Movements\u2019 Impact on Bitcoin Prices<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Eyes will be on any transfers from the associated address.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The last time BTC was moved from the government\u2019s holdings was in late 2024 when 29,800 BTC (valued at over $2 billion) was transferred to Coinbase Prime. 10,000 BTC, or $594 million, was sold out of this.\u00a0\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Arkham Intelligence data shows that the government still controls 198,109 BTC or $18 billion. This stash includes BTC confiscated from Silk Road.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-189784 size-full\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-13-1.png\" alt=\"United States DoJ free to sell Silk Road Bitcoin after judge declines all appeals blocking the liquidation. Will BTC fall?\" width=\"1325\" height=\"813\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-13-1.png 1325w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-13-1-300x184.png 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-13-1-1024x628.png 1024w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-13-1-768x471.png 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-13-1-50x31.png 50w\" sizes=\"auto, (max-width: 1325px) 100vw, 1325px\"><\/p>\n<p>(<a class=\"general-link\" href=\"https:\/\/dune.com\/21co\/us-gov-bitcoin-holdings\" target=\"_blank\" rel=\"noopener\">Source<\/a>)<\/p>\n<p><span data-preserver-spaces=\"true\">Any unexpected liquidation of the $12.63 billion could massively disrupt the market. The abrupt sell-off could lower prices, especially if the market demand is insufficient to absorb the supply spike.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-coinbase-listings\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">15 New &amp; Upcoming Coinbase Listings to Watch in 2025<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener nofollow nofollow\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/us-government-cleared-to-sell-silk-road-bitcoin-will-prices-dump\/\">US Government Cleared to Sell Silk Road Bitcoin: Will Prices Dump?<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>United States DoJ free to sell Silk Road Bitcoin after judge declines all appeals blocking the liquidation. Will BTC fall? Bitcoin Price Trading volume in 24h Last 7d price movement is shaky at press time. Looking at price charts, the world\u2019s most valuable coin is down nearly 8% in three days and under pressure at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-6776","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6776"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6776\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}