Official government announcements or media reports

Senator Lummis Urges U.S. Marshals to Halt Sale of 70,000 Silk Road Bitcoins, Citing Strategic Asset Value

Jan 16, 2025, 03:14 PM

U.S. Senator Cynthia Lummis has expressed concerns over the U.S. Marshals Service's plan to sell nearly 70,000 Bitcoins seized from the Silk Road. In a letter to the agency, Lummis criticized the government's approach to Bitcoin and digital assets, stating that denying their value is costing taxpayers billions. She argued that the government should consider holding Bitcoin as a strategic asset for future generations rather than selling it off. Lummis highlighted past sales by the government, noting that previous transactions resulted in a loss of value, with one sale in 2014 amounting to $18.74 million for 29,657 Bitcoins.