According to the government, Individual X hacked the Silk Road and stole the Bitcoins in question.
The 69,370 Bitcoins have a street value of more than $6.3 billion.
A single Bitcoin trades for $91,832 as of this writing.
The timing of thedecisionis worth noting.
It is unclear if Trump will attempt to block the liquidation.
Instead, they’d probably break the coins up into smaller batches as they’ve done in the past.
In mid-2014, the government auctioned off nearly 30,000 coins all of which were purchased by investorTim Draper.
Another auction in December of the same year saw the government offload 50,000 more Bitcoins.
Another50,000 Bitcoinswere auctioned off in March 2015.
Image credit:Diana Light
