US Department of Justice Approves Sale of $6.5 Billion in Seized Bitcoin from Silk Road

The United States Department of Justice has reportedly approved the sale of over 69,000 Bitcoins (BTC) seized from the dark web site 'Silk Road'.

On the 8th (local time), db quoted a US government official saying, "Today, the US government received approval from the Department of Justice to sell $6.5 billion worth of Bitcoin seized from Silk Road."

As the possibility of a large-scale Bitcoin sell-off from the United States increased, the price of Bitcoin also plummeted. On this day, Bitcoin is trading at around $94,000 on the Binance Tether (USDT) market, down about 3% from the previous day.