The government of the United States is planning to sell over $1.17 billion worth of Bitcoin (BTC) that was seized as part of the Silk Road illicit marketplace fiasco.
According to a new federal court filing, the government is planning to sell the remainder of the approximate 51,351 Bitcoin seized from hacker James Zhong, who authorities accused of stealing the virtual assets from Silk Road in 2012.
Going by the filing, the government has already sold about 9,861 BTC of the total amount seized for more than $215 million on March 14th, leaving about 41,491 BTC.
At Bitcoin’s current value of relatively $28,300, the sale of the remaining BTC would have a value of $1.175 billion.
(By Solomon Odunayo)
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