According to Politico, US Senator Cynthia Lummis has opened an investigation into the sale of BTC to the US Marshals Service, which is responsible for the Bitcoins held by the Justice Department.
Pointing out that the value of sold Bitcoins would increase greatly if they were held, Lummis argued that BTCs should be kept.
“I am writing to request additional information regarding the U.S. Marshal Service’s planned disposal of approximately 69,370 Bitcoins seized from the Silk Road case.
Given the recent decisions made by the Court and the fact that these assets are currently valued at over $6 billion at market prices, this matter must be addressed immediately.
The U.S. Marshal Service’s track record in handling seized Bitcoin presents an alarming loss for American taxpayers.
According to historical sales data, the Service sold approximately 195,092 Bitcoins for a total of approximately $366.5 million between 2014 and 2023.
At current market prices, those same Bitcoins would be worth over $18.9 billion, representing a loss of over $18.5 billion in unrealized value for American taxpayers, a staggering 98% loss in potential value.”
*This is not investment advice.
