USA Cleared for $4.38 Billion in Seized Bitcoin Sale

The U.S. Supreme Court has opted not to address a case involving 69,370 BTC, previously seized from the infamous darkweb market Silk Road.

Battle Born Investments, which argued it had acquired rights to the Bitcoin through a bankruptcy estate, will not have its claim reviewed.

This decision likely paves the way for the government to move forward with selling the Bitcoin . Battle Born had unsuccessfully attempted to assert its ownership in both a district court and an appeals court over the past two years.

Earlier, around $2 billion worth of Silk Road-associated Bitcoin was liquidated by the government via the Marshals Service, using Coinbase Prime for custody.

Large-scale Bitcoin sales by governments often lead to market volatility, as seen when Germany sold nearly 50,000 Bitcoin for over $3.15 billion in a matter of weeks, leading to a significant price decline.