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The U.S. government announced on March 14 that it had sold 9,861.17 bitcoins for $215.7 million, according to a March 31 court filing.
according to the court document, the BTC sold was part of 51,351 seized from James Zhong. Zhong pleaded guilty to wire fraud after he was arrested by the government for illegally acquiring digital assets from the online marketplace Silk Road through hacking.
In 2022, the government asked Zhong to confiscate the seized BTC.
US officials said it had $215.52 million in net revenue while paying $215,738 in transaction fees.
Meanwhile, the government added that it plans to liquidate more than 40,000 bitcoin balances in four batches during this calendar year. However, no further sales will be made until Zhong’s judgment date.
On March 8th, the US government moved 49,000 bitcoins.
However, BTC’s price gained strength in March, surpassing $29,000 on March 29. Over the past 30 days, BTC has risen more than 22% of his.
