As speculation about the possibility of Donald Trump developing a strategic Bitcoin reserve in the United States (US), one crypto pundit has laid out a compelling sequence of events they believe must occur before such a move becomes a reality. The pundit’s analysis centres around key figures like Ross Ulbricht, the founder of Silk Road and the role of the US marshals in managing the seized Bitcoin assets. 

When The US Bitcoin Reserve Will Be Announced

A crypto pundit known as ‘Bio99’ on X (formerly Twitter) asserts that Ulbricht’s recent release from prison was an important first step toward announcing a strategic Bitcoin reserve. According to his X post, Trump could never, in good conscience, create a Bitcoin reserve without addressing the origins of a significant portion of the US government-held BTC—the Silk Road seizures.

For more context, Ulbricht launched the Silk Road online marketplace in 2011, allowing users to buy and sell illegal goods and services, primarily drugs, using BTC as a payment currency. The US authorities first arrested Ulbricht in 2013, halting Silk Road’s operations. 

Along with the arrest, the US seized approximately 26,000 BTC, worth over $3.5 million at the time. An additional 69,370 BTC was confiscated by the US Department of Justice (DOJ) in 2020. Following the seizure, the US government Go to Source to See Full Article
Author: Scott Matherson