The post Supreme Court Allows U.S. to Control $4.33B Bitcoin from Silk Road appeared first on Coinpedia Fintech News
The U.S. government has received a green light from the U.S. Supreme Court for rightful control over 69,370 BTC worth nearly $4.33 billion. The massive holding comes from confiscating assets from the infamous Silk Road case. On October 7, the U.S. Supreme Court declined to hear Battle Born Investments’ argument for Bitcoin ownership. Thus, the US government now has complete control of the seized Bitcoin. The last significant transaction from the US government occurred two months ago with 29.8k BTC, transferring 10k BTC worth $594 million to Coinbase Prime. Currently, the U.S. government holds 203,239 BTC, worth about $12.63 billion.