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<p>The U.S. Supreme Court has ended the <a href="https://www.supremecourt.gov/orders/courtorders/100724zor_4gdj.pdf" target="_blank" rel="noreferrer noopener">legal battle</a> over 69,370 Bitcoin seized from the Silk Road dark web marketplace. These Bitcoin, worth around $4.4 billion, are now set to be sold by the U.S. government after the Court refused to hear the case. </p>   
<p>Let’s look at what led to this decision and what could happen next.</p>   
<h2 class="wp-block-heading" id="h-fighting-over-seized-bitcoin">Fighting Over Seized Bitcoin </h2>   
<p>The legal dispute involved Battle Born Investments, a company claiming they had the right to the seized Bitcoin. Their argument was based on their belief that they had acquired the assets through a bankruptcy estate connected to a man named Raymond Ngan. </p>   
<p>Battle Born argued that Ngan was “Individual X,” a hacker who had stolen Bitcoin from the Silk Road and later turned the funds over to the authorities. However, federal and appellate courts rejected these claims, dismissing the case.</p>   
<h2 class="wp-block-heading" id="h-understanding-the-silk-road-controversy">Understanding the Silk Road Controversy </h2>   
<p>To understand the significance of this case, we need to revisit the history of the Silk Road. Launched in 2011 by Ross Ulbricht, Silk Road became notorious as a platform for illegal activities, where people bought drugs, weapons, and other illegal goods using Bitcoin. Operating on the Tor network, Silk Road handled millions of dollars in transactions before the FBI shut it down in 2013 and arrested Ulbricht.</p>   
<p>The <a href="https://coinpedia.org/news/doj-seizes-50676-bitcoin-from-silk-road-hacker-james-zhong/" target="_blank" rel="noreferrer noopener">Bitcoin seized</a> from the platform remained with the U.S. government. Later, the IRS tracked down additional Bitcoin transactions linked to "Individual X," the hacker who stole Bitcoin from Silk Road before it was taken offline. The government seized these funds in what became the largest cryptocurrency confiscation ever.</p>   
<h2 class="wp-block-heading" id="h-so-what-happens-next">So, What Happens Next? </h2>   
<p>With the Supreme Court refusing to hear Battle Born’s case, the U.S. government is free to sell the seized Bitcoin. The U.S. Marshals Service will oversee the sale, and some of the Bitcoin has <a href="https://platform.arkhamintelligence.com/explorer/tx/2e0b8f39af7d57989a9f911f211d88541473536b42ee4ebd4503cff525155bb0" target="_blank" rel="noreferrer noopener">already been moved</a> to Coinbase Prime, indicating that preparations for an auction are underway. This sale could have a significant impact, not just on the cryptocurrency market but also on the U.S. economy and politics.</p>   
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<h2 class="wp-block-heading" id="h-trump-s-bold-crypto-vision">Trump's Bold Crypto Vision </h2>   
<p>At the<a href="https://coinpedia.org/news/bitcoin-to-hit-ath-after-donald-trump-bitcoin-conference-2024-speech/" target="_blank" rel="noreferrer noopener"> 2024 Bitcoin Conference</a> in Nashville, presidential candidate Donald Trump shared his thoughts on the seized Bitcoin. Trump proposed that instead of selling the Bitcoin, the U.S. government should hold it to create a “strategic Bitcoin reserve,” similar to Germany’s approach. </p>   
<p>His idea has sparked conversations about how Bitcoin could play a larger role in U.S. economic strategy.</p>   [post_titles_links postid="361905"]   
<p><strong>The countdown to the Bitcoin auction has begun. Grab your popcorn and watch the drama unfold!</strong></p>

Largest Crypto Sale Ever?! U.S. to Auction $4.4B Seized Silk Road Bitcoin

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