This news article discusses the seizure of 69,370 Bitcoins associated with the dark web marketplace Silk Road by the United States Department of Justice and Internal Revenue Service in 2020. The Bitcoin hoard has been in storage but the Supreme Court has allowed the Treasury Department to sell off the assets. The sale of such a large amount of Bitcoin could potentially bring prices down, but the value of the seized assets has significantly increased since the confiscation. The article also mentions that a company called Battle Born Investments had appealed the decision to sell the Silk Road Bitcoin, but they lost the legal battle. As of press time, the value of the seized Bitcoins has risen to $6,565,176,800, a 576% increase compared to November 3, 2020. It remains to be seen if the hoard will ever hit the market, as there have been previous intentions to halt the sale of seized cryptocurrencies and use them as reserve assets instead.



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