Bitcoin: The Supreme Court Reveals $4.4 Billion From Silk Road!

The decision of the U.S. Supreme Court has just shaken the world of crypto. By dismissing the controversial case of Battle Born Investments, which claimed ownership of 69,370 Bitcoins seized on Silk Road, the highest court in the United States has opened the door to a possible massive liquidation by the government. This event marks a turning point for the future of these $4.4 billion in bitcoins, a treasure that could soon fill state coffers or flood the market, with potentially devastating consequences for the price of Bitcoin.

The Battle of Battle Born Investments

Since 2013, Battle Born Investments has been fiercely fighting to claim these 69,370 bitcoins seized from the infamous Silk Road platform.

They claim to have acquired the rights to this loot during a judicial liquidation, but the courts have never been convinced of the validity of their claim.

In 2022, the district court had already dismissed their case, followed by the San Francisco Court of Appeals in 2023. Despite these setbacks, Battle Born made one last attempt to make their case before the Supreme Court. But the latter, unsurprisingly, refused to review the case.

What does this decision mean for the future of $4.4 billion in bitcoins? By letting the case fall, the Supreme Court paves the way for the U.S. government to take full control of these seized funds.

Now, a massive sale seems more likely than ever, which could have direct repercussions on the stability of the Bitcoin market. The involvement of the Marshals Service, which uses Coinbase Prime to store and manage these BTC assets, demonstrates the rigor with which the government manages its seized digital assets.

Potential Impacts on the Bitcoin Market

The prospect of a massive sale of 69,370 bitcoins by the U.S. government worries investors and raises serious questions.

Such a liquidation could create significant volatility, similar to what happened during similar sales in the past.

For example, in 2023, when the German government sold 50,000 bitcoins in a few weeks, the market experienced notable tremors. This time, with a current value of $4.4 billion, Bitcoin is likely to experience even more pronounced fluctuations.

Market observers fear that this sale may open the door to a temporary devaluation of the cryptocurrency.

For institutional investors, this type of operation presents risks but also opportunities to buy back at low prices. In contrast, retail traders may be hit hard by a potential price collapse. The most pessimistic even fear a shockwave that could influence the entire crypto market.

Finally, this situation highlights the ideological differences between the main candidates for the presidency of the United States. While Republican Donald Trump plans to build a “strategic stock of Bitcoin,” Kamala Harris, a Democratic candidate, remains silent on her intentions regarding digital assets.

The fate of these seized bitcoins could therefore also depend on the next administration, adding a political dimension to this already explosive case.

The U.S. Supreme Court has thus chosen to let $4.4 billion in bitcoins slip into an uncertain future, reminding the world that, in the arena of cryptocurrencies, the battle for control continues to be played out far beyond the simple market. Meanwhile, Metaplanet injects 1 billion yen into BTC!