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If he wins I guess he can get the $8.5M.

What happens if the value of BTC goes up or down though during that time though? What will he be entitled to?

$8.5 million. Note that he isn't contesting the sale.

Hypothetically, assuming he did contest the sale and Bitcoin went up, they would have to give him back the amount of bitcoin that they sold, since technically Bitcoin is an asset and not a currency in the eyes of the government, correct?

I don't think so. If he contested it there'd be a hearing on the motion and either judge would allow the sale to go forward or he wouldn't. If the sale did go forward, and the defendant won at trial, he would still only get the $8.5 plus interest, regardless of what bitcoin prices did in the meanwhile.

I'm not sure what the legal standard is for this motion though.

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