This is according to the government’s custody wallets it tracks. In other words, the USMS should have the 198K BTC.
But others were quick to point out that none of the BTC has moved on-chain.
In fact, security researcher, Tay Vano, stated that about 69.37K BTC confiscated from Silk Road was yet to be forfeited (made state property).
Hence, it hasn’t appeared in USMS custody, and the government could still be holding more than 28.9K BTC.
However, Bailey doubted this and said that the U.S. probably sold part of the holdings via swaps, leaving no on-chain trace.
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