The USA authorities mentioned it bought 9,861.17 Bitcoin on March 14 for $215.7 million, in line with a March 31 court docket submitting.
In response to the court docket doc, the BTC bought was among the many 51,351 seized from James Zhong. Zhong pleaded responsible to wire fraud after the federal government arrested him for illegally acquiring digital belongings from the Silk Street darkish web market by hacking.
In 2022, the federal government requested the confiscation of BTC seized from Zhong.
US authorities mentioned they paid $215,738 in transaction charges whereas they’d web proceeds of $215.52 million.
In the meantime, the federal government added that it plans to liquidate the steadiness of greater than 40,000 Bitcoins in 4 batches throughout this calendar 12 months. Nonetheless, he wouldn’t make any extra gross sales earlier than Zhong’s sentencing date.
On March 8, the US authorities moved 49,000 Bitcoin
Nonetheless, the value of BTC continued to strengthen in March, reaching over $29,000 on March 29. Over the previous 30 days, BTC has gained over 22%.
