Experts believe that the US Marshal Service (USMS) plans to sell all remaining Silk Road Bitcoin (BTC) after transferring the confiscated funds to new addresses.

As the entity responsible for managing seized assets, the USMS — effectively representing the US government — may be taking action under political influence.

US Marshal Service Likely Selling Silk Road Bitcoin

Scott Johnsson, a finance lawyer, believes the US Marshal Service is “most certainly” selling Silk Road Bitcoin. This speculation arises after a series of BTC transfers to a custodial address, as outlined in the June servicing agreement between the USMS and Coinbase.

Johnsson noted that, per the agreement, USMS assets must remain fully segregated. The movement of these funds aligns with the terms, further fueling speculation that the government intends to liquidate the seized Bitcoin soon.

“Whenever a transfer is ultimately made to Coinbase Prime (or other commingled exchange address), you can be sure USMS has already sold or is selling imminently,” Johnsson shared.

Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know

Johnsson believes the USMS will reveal the sales at its chosen time, possibly in the DOJ’s FY2024 report. He also notes a political angle, suggesting the transactions accelerated after Trump’s Bitcoin 2024 Conference appearance in Nashville.

Among Trump’s key points were creating a “Strategic Bitcoin Reserve” and halting government-owned BTC sales. Many belie

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Author: Lockridge Okoth

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