Senator Lummis Urges U.S. Marshals to Reconsider Sale of 70,000 Bitcoin from Silk Road Due to $17 Billion Unrealized Value

Jan 16, 2025, 03:59 PM

U.S. Senator Cynthia Lummis has raised concerns over the U.S. Marshals Service's plan to sell nearly 70,000 Bitcoin seized from the Silk Road case. In a letter to the Director of the U.S. Marshals Service, Lummis highlighted the potential financial impact of such a sale, noting that past sales of Bitcoin by the agency resulted in over $17 billion in unrealized value for taxpayers. She argued that selling these assets could be detrimental, emphasizing that the Bitcoin represents an opportunity to diversify America's assets and build a financial foundation for future generations. Lummis stressed that the decision to hold or sell these Bitcoin could have long-term implications for the nation's financial sovereignty and strategic position.