$1B in BTC moved from Silk Road wallet.

[MoodyMisanthrope 34]

There was this news recently that BTC worth around $1 billion at current market price was moved from the wallet that belongs to the dark web marketplace Silk Road that was shut down by the authorities in 2013.

 

The one who ran that marketplace is currently in jail so how could he be the one who sent away the BTCs. Do you think hackers have gained access to that wallet? Or is someone else having access to these huge amount of money? And do you think whoever did this will start selling these Bitcoin (that would ofc have a high risk of getting caught).

 

What do you think about all this? Can this be have an significant impact on the BTC price?

 

Source: https://www.coindesk.com/nearly-1b-in-bitcoin-moves-from-wallet-linked-to-silk-road

Edited November 5, 2020 by MoodyMisanthrope

[yonkii 3205]

I read about that too. It was someone else having the private key and not the Silk Road founder, who is in jail at the moment. The other person that had access to this wallet, cooperated with the agents and probably given the stash to avoid having problems with the law. But this is just what we are being told, there can be a lot more that we don't know and probably covered up.

[Rozy 1918]

When I first read the number one I thought that you mean one Dollar and I wondered what is the importance of such a small amount to Bitcoin , then I realized that you were talking about one Billion Dollar, which is incredible number , and anyone who has it is not a regular person but a market maker, and such people are able to manipulate the price any time.

[Whited35 15285]

On 11/6/2020 at 2:19 AM, MoodyMisanthrope said:

The one who ran that marketplace is currently in jail so how could he be the one who sent away the BTCs. Do you think hackers have gained access to that wallet? Or is someone else having access to these huge amount of money? And do you think whoever did this will start selling these Bitcoin (that would ofc have a high risk of getting caught).

Probably the authority which has seized that amount, is trying to sell the crypto. Dark markets are being spotted by the authority to shut down and blockchain analysis companies are helping to spot the criminals. 

On 11/6/2020 at 2:19 AM, MoodyMisanthrope said:

What do you think about all this? Can this be have an significant impact on the BTC price?

No worries until the huge sell off orders are place on the cryptocurrency exchange sites. Significant impacts can be seen once the dumping is appeared by using a huge amount of Bitcoin. 

[abohasnn9 2401]

I still remember this event, although it is old, but it was influencing a limit on the price of the Bitcoin currency, so I bought Bitcoin for $ 1 million.  A very big thing at the time, the price of which was raised to a large volume through its high circulation, and the matter was repeated when Elon Musk bought a billion and a half dollars in Bitmoin from a very small period.

[kryptonick 2659]

I remember reading about this wallet which was not anywhere in the findings when the Ross Ulbricht was judged for Silk Road. It remained hidden and while there was a lot of discussion about this wallet for years, it finally showed up as a Silk Road wallet. Makes you think if this is actual a Silk Road wallet or somehow the US government managed to crack it open. It was the same wallet being discussed passing between hackers hands trying to unlock it.