U.S. government sold over 9k BTC for $215.7M on March 14


CoinDesk Consensus

The USA authorities stated it bought 9,861.17 Bitcoin on March 14 for $215.7 million, in line with a March 31 court docket submitting.

In line with the court docket document, the bought BTC was a part of the 51,351 seized from James Zhong. Zhong pleaded responsible to wire fraud after the federal government arrested him for unlawfully acquiring digital property from the darkish internet market Silk Highway by means of hacking.

In 2022, the federal government sought the forfeiture of the seized BTC from Zhong.

The U.S. authorities stated it paid $215,738 as transaction charges whereas it has internet proceeds of $215.52 million.

In the meantime, the federal government added that it plans to liquidate the over 40,000 Bitcoin stability in 4 batches throughout this calendar 12 months. Nevertheless, it might not make additional gross sales till Zhong’s sentencing date.

On March 8, the U.S. authorities moved 49,000 Bitcoin

Nevertheless, BTC’s worth has gone from energy to energy in March, rising to over $29,000 on March 29. Within the final 30 days, BTC has gained greater than 22%.

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