US Will Sell $117M in Bitcoin Seized from Silk Road Drug Trafficker

Will this have an impact on the price of bitcoin?

My thought as well. Bitcoin is up ~73% year-over-year.

The 200,000 mtgox coins are entering av supply

No, people are already selling hundreds of millions worth per day.

What will the US spend this money on?

I'm hoping for blackjack, hookers, and booze personally.

> Farace forfeited just 24 Bitcoin in 2020, claiming that he no longer had access to additional funds. But while incarcerated in 2020, Ryan Farace instructed his father Joseph to transfer 2,874 Bitcoin to a third party accomplice to move the funds out of the United States. The pair admitted such actions in their plea agreements. Ryan was indicted for the charges in 2021.

> Ultimately, Ryan Farace was sentenced to an additional 54 months in federal prison on January 5, while Joseph Farace was sentenced to 19 months in federal prison on January 8, with two years of supervised release to follow.

I'm sure that's all of it /s.

How long will he remain under the watchful eye of the US government?