The United States Supreme Court declined on Monday to hear a case concerning the ownership of 69,370 Bitcoin seized from the dark web marketplace Silk Road, apparently paving the way for the American government to sell the $4.38 billion stash of BTC in question.

In 2022, a federal court in California ruled against Battle Born Investments, a company that claimed it had purchased rights to the seized Bitcoin via a bankruptcy estate. Battle Born argued that the debtor from the bankruptcy action, Raymond Ngan, was the mysterious “Individual X” who had stolen billions of dollars worth of BTC from Silk Road, which the U.S. government had subsequently seized. 

The federal court was unconvinced that Ngan was really “Individual X,” and thus ruled that Battle Born did not have a valid claim to the seized Bitcoin. The following year, a federal appeals court in San Francisco upheld the ruling. 

Now that the Supreme Court has declined to hear Battle Born’s case, the issue has more or less reached the end of the road. That means that few obstacles remain to the government doing what it wishes with the seized funds—namely, selling them.

In recent months, the U.S. government has moved around massive sums of B

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Author: Sander Lutz