United States Marshals Service Sold Bitcoins

The U.S. Department of Justice 

recently claimed the proceeds from the sale of 144,336 bitcoins found in Ross Ulbricht’s 

laptop, gained from Silk Road’s 

seizure in 2013. Claiming the proceeds took a couple of years, and netted the government little over $48 million. The government’s release reads:

“These Bitcoins were ultimately sold by the United States Marshals Service

pursuant to Court order for $48,238,116.”

The government had already sold the bitcoins back in 2014 and 2015 in a series of auctions, but alleged Silk Road creator Ross Ulbricht, who operated the “Dread Pirate Roberts” (DPR) account in the notorious marketplace, repeatedly challenged the legality of the forfeiture and stopped the government from getting its hands on the money.

Ulbricht recently decided to drop his claims, according to the office of Acting U.S. Attorney for Manhattan, Joon H. Kim. Proceeds of $48.2 million from the sale of 144,336 bitcoins mean that the government sold the cryptocurrency at an average price of $334. Had the government sold the bitcoins now, it would make over $600 million, as one bitcoin is trading at $4,231.29 at press time.