Quick announcement for my followers before I start the article. I won’t be writing as much as I would like to over the next 14 days because I am very busy. I’ll be back to blogging as much as I can as soon as possible.

The United States Government has been holding 50,000 Bitcoins that they seized from James Zhong in 2021.

James Zhong later pleaded guilty to hacking the Silk Road marketplace, a notorious dark web marketplace, for over 50,000 Bitcoins. When at its peak they were worth $3.3 billion.

On the 14th of March the US Government sold about 9,860 of those Bitcoins at $21,877 per coin totalling to $215 million. The market, surprisingly, was unchanged going on to rise 2% that day.

To help me keep writing articles follow, like, leave yourself a big tip, and have a great rest of your day.