The U.S. Supreme Court has opted not to address a case involving 69,370 BTC, previously seized from the infamous darkweb market Silk Road.
Battle Born Investments, which argued it had acquired rights to the Bitcoin through a bankruptcy estate, will not have its claim reviewed.
This decision likely paves the way for the government to move forward with selling the Bitcoin. Battle Born had unsuccessfully attempted to assert its ownership in both a district court and an appeals court over the past two years.
Earlier, around $2 billion worth of Silk Road-associated Bitcoin was liquidated by the government via the Marshals Service, using Coinbase Prime for custody.
Large-scale Bitcoin sales by governments often lead to market volatility, as seen when Germany sold nearly 50,000 Bitcoin for over $3.15 billion in a matter of weeks, leading to a significant price decline.
Robert Kiyosaki, the author of Rich Dad Poor Dad, is determined to acquire 100 Bitcoin by 2025.
Crypto analytics firm Alphractal has identified a pivotal phase for Bitcoin, pointing to its approach toward historically significant levels that have often marked major market shifts.
Bitcoin (BTC) crossed the $79,000 mark for the first time during this weekend’s rally, leading to $386 million in liquidated trades.
Bitcoin’s recent climb to a new all-time high has sparked significant profits across the market, with both retail and institutional investors reaping the benefits.