US authorities have made over $215m from selling bitcoins seized from the Silk Road marketplace in November 2021, according to court documents.

The Formula 1 car for the Williams Racing team will feature an excerpt from the Bitcoin white paper, as a result of a sponsorship deal with United States-based crypto exchange Kraken.

U.S. Government Sold $216M of Seized Silk Road Bitcoin This Month; BUSD Trading Temporarily Halted by Binance.US After CFTC Allegations

The U.S. government sold 9,861.17 bitcoin (BTC) for almost $216 million on March 14, a court filing shows.

The year 2021 genuinely belonged to Cryptos and blockchain, with Crypto adoption increasing like never before across geographies, institutions, and corporations.

Bitcoin investors remain greedy despite the cryptocurrency's low momentum in recent weeks. The Crypto Fear and Greed Index, which measures the sentiment of market participants, currently sits at a level of 72, indicating that investors are still exhibiting signs of greed.

Bitcoin has emerged as the top-performing asset class in Q1 2023, with gains of about 70%, making it the digital currency’s best quarter since Q1 2021. This outperformed big names like the S&P 500, Nasdaq 100, and iShares Core U.S. Aggregate Bond ETF. Bitcoin's gains have also surpassed those of gold and silver in the first three months of 2023.

Bitcoin's recent dip has left some investors concerned about a potential larger correction, as on-chain data shows that certain traders and whales are cashing out after a period of steady gains. CryptoQuant's Spent Output Profit Ratio data has surged above 1, indicating rising counts of hefty transactions transferring Bitcoin from exchanges to private wallets. While Bitcoin's overall trend is still bullish, Lukasz Wydra, a prominent Bitcoin and crypto analyst, highlighted that the current trading volumes are at their lowest for the year 2023, which is a similarity to what occurred in June 2022 before the drop from $30,000. This has left some investors cautious and watching market developments closely.

Bitcoin is approaching its one millionth address holding one BTC or more. This is exponential growth from this cohort, also known as “crabs”. The cohort that is just below “crabs”, is referred to as “shrimps”, which is currently accumulating Bitcoin at the third most aggressive rate in the past five years. This is encouraging to see as CryptoSlate analyzed that whales were distributing Bitcoin at an aggressive rate — which only distributed more Bitcoin to more holders.