The US government has revealed plans to sell 41,490 Bitcoin seized in the Ulbricht case in four separate sales before the end of 2023. The government has already sold roughly 9,861 of the stash for just over $215 million. Despite the news spooking traders, Bitcoin remained resilient after the announcement, consolidating sideways tightly after tapping $29,000 on Thursday.
In a March 31 court filing with the US District Court for the Southern District of New York case against James Zhong, it was revealed that the government has begun selling the 51,352 Bitcoin forfeited in the Ulbricht case. As per the document, the government sold roughly 9,861 of the stash for just over $215 million on March 14, 2023.
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