You may remember a piece I did a couple weeks ago about Silk Road, well it turns out the story surrounding the narcotics Ebay-esque site is developing even further. The FBI seized 144,000 bitcoins, which equates to $28.5 million in U.S. dollars, from Silk Road founder Ross Ulbricht. It’s currently the largest seizure of bitcoins ever.
Apparently that’s not everything Ross Ulbricht has though. According to Forbes, he has another 110,000 bitcoins, which equates to about $22 million, that he kept separated from the finances that have already been seized.
Oddly enough, when $3 million bitcoins were initially seized from Silk Road, the currency plummeted for a bit before recovering. However, this time around hasn’t hurt the currency at all. A single bitcoin used to cost $130 when Silk Road was first shut down – it’s now worth $185.
Bitcoins might actually start becoming a thing. I’m still not going to get into them because of the shaky ground they currently stand on, but the currency is proving to be awfully resilient and isn’t going down without a fight. I’m not entirely sure if the FBI’s confiscation is intended to hurt the currency or Mr. Ulbricht.
Have you dabbled in bitcoins yet?
Source – The Verge
Filed Under: Technology News