Following President Donald Trump’s pardon of Silk Road founder Ross Ulbricht Tuesday, the Bitcoin community has rallied, pouring crypto into Ulbricht’s donation fund at FreeRoss.org. But does he need the money?

Ulbricht could already be sitting on millions in Bitcoin, according to Conor Grogan, a director at the San Francisco-based cryptocurrency exchange Coinbase. Grogan noted that around 430 BTC—worth approximately $47 million—awaits untouched in wallets possibly linked to Ulbricht. These wallets have been dormant for over 13 years, he said.

“I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the [U.S. government] and have been untouched for 13+ years,” Grogan posted on X. “Back then these were probably dust wallets, now, collectively, they are worth about $47 million,” Grogan continued.

According to Arkham Intelligence data, fourteen Bitcoin addresses linked to the Silk Road collectively hold $47 million in Bitcoin, confirming the figure from Groga

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Author: Jason Nelson