SilkRoadBitcoin
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šØ Legal Update šØ
š On Dec 20, a U.S. appeals court finalized the forfeiture of 69,370 Bitcoins tied to Silk Road. Ross Ulbricht, the founder and 'Individual X' were named. The U.S. govt. now holds control, following a hacking incident outlined in the initial complaint.
š Silk Road's founder, Ross Ulbricht, serving a life sentence, established the dark web marketplace from 2011-2013. The recent forfeiture of 69,370 Bitcoins underscores the government's authority over seized digital assets.
š° In 2022, Ulbricht agreed to allocate $3B worth of stolen Bitcoin to settle debts with the U.S. government, forfeiting rights to 69,470 Bitcoins. A wallet holding 69,369 BTC saw its first movement since 2015.
š¤ Will the U.S. govt. hold or sell the BTC?
Despite selling 10,000 Bitcoins in March, with Bitcoin prices rising 100% in 2023, analysts suggest holding. Bullish sentiment surrounds a potential Bitcoin ETF approval and the 2024 Bitcoin halving, with price targets of $100K and beyond.
#SilkRoadBitcoin #BTC!š° #cryptocurrencry #Bitcoin #CryptoNewsšš°š«
š On Dec 20, a U.S. appeals court finalized the forfeiture of 69,370 Bitcoins tied to Silk Road. Ross Ulbricht, the founder and 'Individual X' were named. The U.S. govt. now holds control, following a hacking incident outlined in the initial complaint.
š Silk Road's founder, Ross Ulbricht, serving a life sentence, established the dark web marketplace from 2011-2013. The recent forfeiture of 69,370 Bitcoins underscores the government's authority over seized digital assets.
š° In 2022, Ulbricht agreed to allocate $3B worth of stolen Bitcoin to settle debts with the U.S. government, forfeiting rights to 69,470 Bitcoins. A wallet holding 69,369 BTC saw its first movement since 2015.
š¤ Will the U.S. govt. hold or sell the BTC?
Despite selling 10,000 Bitcoins in March, with Bitcoin prices rising 100% in 2023, analysts suggest holding. Bullish sentiment surrounds a potential Bitcoin ETF approval and the 2024 Bitcoin halving, with price targets of $100K and beyond.
#SilkRoadBitcoin #BTC!š° #cryptocurrencry #Bitcoin #CryptoNewsšš°š«
Silk Road Bitcoin Auction: Unearthing a Crypto Treasure Trove
š Reading Time: 12 mins
In an unprecedented move, the U.S. government is set to auction off $130 million worth of Bitcoin, seized from Silk Road agents. This substantial sale encompasses two lots: a larger batch of 2,874.9 BTC and a smaller one of 58.7 BTC. The Bitcoins, confiscated from criminal activities, reflect a new chapter in digital asset management and legal proceedings.
The Intriguing Backstory
Seized from Ryan Farace and former Secret Service agent Sean Bridges, these Bitcoins tie back to darknet Xanax sales and corruption within the Silk Road investigation. The U.S. Attorney General, under the US District Court for the District of Maryland's ruling, supervises the auction, shedding light on the government's approach to handling crypto assets linked to criminality.
Market Implications
The auction's impact on the Bitcoin market is a hot topic among investors. While some predict a bearish sentiment due to a temporary increase in supply, others believe the long-term effect will be minimal. This is because the volume of Bitcoin being auctioned is relatively small compared to the market cap. The nature of the buyers, be they institutional or individual, will also play a crucial role in shaping market dynamics.
Regulatory Signals and Investor Perception
The auction is more than just a sale; it's a symbol of the government's growing involvement in the cryptocurrency space. It may impact investor sentiment, especially regarding future regulatory actions in the crypto market. Interestingly, such government auctions can also lend a form of legitimacy to digital assets.
Bitcoin's Current Market Status
At the time of writing, Bitcoin stands at around $41,803, showing a slight recent decrease but maintaining substantial growth over the last six months and year. Considering these trends, the auction might cause short-term fluctuations, but its long-term influence on Bitcoin's trajectory seems limited.
Looking Ahead
While the auction is noteworthy, $BTC long-term predictions hinge on broader factors like technological advancements, adoption rates, regulatory developments, and macroeconomic conditions. The current technical analysis suggests a resilient market, capable of absorbing such events.
Disclaimer
This analysis is not financial advice. Market conditions are subject to rapid changes. For up-to-date information and comprehensive market analysis, consult various financial news sources and experts.
š Stay informed and engaged with the evolving world of cryptocurrencies. Don't forget to follow, like, and share for more insights from The Crypto Sage! Keep the crypto knowledge flowing into the blockchain.
#SilkRoadBitcoin #CryptoAuction #marketanalysis #CryptocurrencyNews. #TrendingTopic
In an unprecedented move, the U.S. government is set to auction off $130 million worth of Bitcoin, seized from Silk Road agents. This substantial sale encompasses two lots: a larger batch of 2,874.9 BTC and a smaller one of 58.7 BTC. The Bitcoins, confiscated from criminal activities, reflect a new chapter in digital asset management and legal proceedings.
The Intriguing Backstory
Seized from Ryan Farace and former Secret Service agent Sean Bridges, these Bitcoins tie back to darknet Xanax sales and corruption within the Silk Road investigation. The U.S. Attorney General, under the US District Court for the District of Maryland's ruling, supervises the auction, shedding light on the government's approach to handling crypto assets linked to criminality.
Market Implications
The auction's impact on the Bitcoin market is a hot topic among investors. While some predict a bearish sentiment due to a temporary increase in supply, others believe the long-term effect will be minimal. This is because the volume of Bitcoin being auctioned is relatively small compared to the market cap. The nature of the buyers, be they institutional or individual, will also play a crucial role in shaping market dynamics.
Regulatory Signals and Investor Perception
The auction is more than just a sale; it's a symbol of the government's growing involvement in the cryptocurrency space. It may impact investor sentiment, especially regarding future regulatory actions in the crypto market. Interestingly, such government auctions can also lend a form of legitimacy to digital assets.
Bitcoin's Current Market Status
At the time of writing, Bitcoin stands at around $41,803, showing a slight recent decrease but maintaining substantial growth over the last six months and year. Considering these trends, the auction might cause short-term fluctuations, but its long-term influence on Bitcoin's trajectory seems limited.
Looking Ahead
While the auction is noteworthy, $BTC long-term predictions hinge on broader factors like technological advancements, adoption rates, regulatory developments, and macroeconomic conditions. The current technical analysis suggests a resilient market, capable of absorbing such events.
Disclaimer
This analysis is not financial advice. Market conditions are subject to rapid changes. For up-to-date information and comprehensive market analysis, consult various financial news sources and experts.
š Stay informed and engaged with the evolving world of cryptocurrencies. Don't forget to follow, like, and share for more insights from The Crypto Sage! Keep the crypto knowledge flowing into the blockchain.
#SilkRoadBitcoin #CryptoAuction #marketanalysis #CryptocurrencyNews. #TrendingTopic
šØ Breaking News: $130 Million Bitcoin Auction šØ
Discover the story behind the U.S. government's monumental decision to auction off a massive stash of Bitcoin seized from Silk Road. This event is not just a sale; it's a turning point in the government's approach to digital assets and a potential market mover for Bitcoin. Get all the details, analysis, and insights in our latest article at The Crypto Sage on Binance Square.
Dive into the intriguing backstory, understand the market implications, and explore what this means for the future of cryptocurrency.
š Read the Full Story Here
Keep the crypto knowledge flowing into the blockchain. Follow, like, and share for more insights from The Crypto Sage! #BitcoinAuction #SilkRoadBitcoin #CryptocurrencyAnalysis #BinanceSquare #BTCto40k
Discover the story behind the U.S. government's monumental decision to auction off a massive stash of Bitcoin seized from Silk Road. This event is not just a sale; it's a turning point in the government's approach to digital assets and a potential market mover for Bitcoin. Get all the details, analysis, and insights in our latest article at The Crypto Sage on Binance Square.
Dive into the intriguing backstory, understand the market implications, and explore what this means for the future of cryptocurrency.
š Read the Full Story Here
Keep the crypto knowledge flowing into the blockchain. Follow, like, and share for more insights from The Crypto Sage! #BitcoinAuction #SilkRoadBitcoin #CryptocurrencyAnalysis #BinanceSquare #BTCto40k
Expected Real Impact on BTC Price if US Government sells these Bitcoins on Coinbase. ā
_________________________________
Yes, Guys It is only as low as $100 only Difference šÆ.
Whats Your take and your analysis about how low will $BTC prices go before next bullish momentum.?
#BTCbulls #BTCHALVING #SilkRoadBitcoin
_________________________________
Yes, Guys It is only as low as $100 only Difference šÆ.
Whats Your take and your analysis about how low will $BTC prices go before next bullish momentum.?
#BTCbulls #BTCHALVING #SilkRoadBitcoin
US Marshals Likely Selling Silk Road Bitcoin, Says LawyerĀ !!
U.S. finance lawyer Scott Johnsson has stated that he believes the US Marshals Service (USMS) is almost certainly in the process of selling Bitcoin seized from the infamous Silk Road marketplace.
His assertions appear to be grounded in a service agreement signed between the USMS and Coinbase in June.
According to Johnsson, this agreement indicates that once Bitcoin reaches Coinbase Prime, it is a clear sign that the USMS has either sold or is about to sell these assets.
#USMarshals #SilkRoadBitcoin #bitcoinnewsupdate #LowestCPI2021 #Write2Earn!
U.S. finance lawyer Scott Johnsson has stated that he believes the US Marshals Service (USMS) is almost certainly in the process of selling Bitcoin seized from the infamous Silk Road marketplace.
His assertions appear to be grounded in a service agreement signed between the USMS and Coinbase in June.
According to Johnsson, this agreement indicates that once Bitcoin reaches Coinbase Prime, it is a clear sign that the USMS has either sold or is about to sell these assets.
#USMarshals #SilkRoadBitcoin #bitcoinnewsupdate #LowestCPI2021 #Write2Earn!
US files notice to sell $130 million worth of #Bitcoin from Silk Road.
The US government filed a notice to sell 2874 Bitcoins ($130 million) seized from the illegal marketplace Silk Road.
#USGovernment #SilkRoad #SilkRoadBitcoin
The US government filed a notice to sell 2874 Bitcoins ($130 million) seized from the illegal marketplace Silk Road.
#USGovernment #SilkRoad #SilkRoadBitcoin
now government is dumping on Us , Top priority is to stay alive for the super cycle.. we are close š
Silk Road $BTC being sold
German government selling
Mt Gox selling soon
Last speed bump of turbulence before higher
#SilkRoadBitcoin #MtGox #BTCā
Silk Road $BTC being sold
German government selling
Mt Gox selling soon
Last speed bump of turbulence before higher
#SilkRoadBitcoin #MtGox #BTCā
1. The United States government has filed a notice to sell over $130 million worth of bitcoin linked to Silk Road forfeitures.
2. The public notification outlines two lots of bitcoin for sale, with the first comprising approximately 2,800 BTC valued at around $129 million.
3. The second, smaller lot consists of 58 BTC, estimated at approximately $3 million.
4. The bitcoins are associated with Ryan Farace, who was sentenced to 54 months in prison in Maryland last year for money laundering conspiracy.
5. Farace and his father, Joseph, were convicted of laundering bitcoin originally used for drug trafficking, and the funds were supposed to be forfeited to the U.S. government.
6. In 2018, Ryan Farace claimed not to have access to the bitcoin used for darknet transactions, but later evidence revealed a conspiracy to transfer over 2,874 Bitcoin to a third party for moving funds into a foreign bank account.
7. The first lot of bitcoin is also linked to Shaun Bridges, a former Secret Service agent involved in the Baltimore Silk Road Task Force, who was sentenced to a six-year prison term in 2015 for stealing BTC during the Silk Road investigation.
8. Both Faraces were ordered to forfeit their bitcoin, and Bridges agreed to surrender the stolen bitcoin to U.S. agents.
9. The sale of these bitcoins is part of the government's efforts to liquidate assets seized in connection with illegal activities.
10. The notice highlights the ongoing legal actions and forfeitures associated with cryptocurrency-related crimes and investigations.
#BTC #SilkRoadBitcoin #SilkRoad
2. The public notification outlines two lots of bitcoin for sale, with the first comprising approximately 2,800 BTC valued at around $129 million.
3. The second, smaller lot consists of 58 BTC, estimated at approximately $3 million.
4. The bitcoins are associated with Ryan Farace, who was sentenced to 54 months in prison in Maryland last year for money laundering conspiracy.
5. Farace and his father, Joseph, were convicted of laundering bitcoin originally used for drug trafficking, and the funds were supposed to be forfeited to the U.S. government.
6. In 2018, Ryan Farace claimed not to have access to the bitcoin used for darknet transactions, but later evidence revealed a conspiracy to transfer over 2,874 Bitcoin to a third party for moving funds into a foreign bank account.
7. The first lot of bitcoin is also linked to Shaun Bridges, a former Secret Service agent involved in the Baltimore Silk Road Task Force, who was sentenced to a six-year prison term in 2015 for stealing BTC during the Silk Road investigation.
8. Both Faraces were ordered to forfeit their bitcoin, and Bridges agreed to surrender the stolen bitcoin to U.S. agents.
9. The sale of these bitcoins is part of the government's efforts to liquidate assets seized in connection with illegal activities.
10. The notice highlights the ongoing legal actions and forfeitures associated with cryptocurrency-related crimes and investigations.
#BTC #SilkRoadBitcoin #SilkRoad
Recently, Peter Schiff, a prominent Bitcoin critic, took a jab at MicroStrategy CEO Michael Saylor regarding the U.S. government's custody of 69,370 Bitcoins seized from the Silk Road. In a tweet, Schiff suggested that Saylor should raise $4.3 billion to purchase the seized Bitcoins, which have sparked speculation about a potential government sell-off. This mockery aligns with Schiff's longstanding skepticism of Bitcoin, where he contrasts it with his preference for gold
The U.S. government now holds a total of 203,239 Bitcoins, worth approximately $12.63 billion, following a Supreme Court ruling that has cleared the way for the sale of the seized coins. This news has ignited debates about the potential impact of such a sale on the Bitcoin market, especially with the 2024 Presidential elections on the horizon
For a deeper look into the ongoing discussions around this topic and to see the exchanges between Schiff and Bitcoin supporters, you can check out the full articles on [CoinMarketCap](49) and [CoinSpeaker](47).
#PeterSchiff $BTC $BNB
#MichaelSaylor
#BitcoinDebate
#SilkRoadBitcoin
#CryptoCriticism
The U.S. government now holds a total of 203,239 Bitcoins, worth approximately $12.63 billion, following a Supreme Court ruling that has cleared the way for the sale of the seized coins. This news has ignited debates about the potential impact of such a sale on the Bitcoin market, especially with the 2024 Presidential elections on the horizon
For a deeper look into the ongoing discussions around this topic and to see the exchanges between Schiff and Bitcoin supporters, you can check out the full articles on [CoinMarketCap](49) and [CoinSpeaker](47).
#PeterSchiff $BTC $BNB
#MichaelSaylor
#BitcoinDebate
#SilkRoadBitcoin
#CryptoCriticism