It looks like the government will make a nice little profit after it cashes out all the bitcoin it seized when it took down Silk Road.
On Thursday, the Manhattan U.S. Attorney’s office, which is prosecuting the Silk Road case, announced that a judge had signed off on a forfeiture order for those coins. That means they’re now free to get rid of the 29,655 bitcoins, worth about $25 million at Bitcoin’s current $850 value. "We have not yet determined exactly how the Bitcoins will be converted and liquidated," said Manhattan U.S. Attorney Office spokesperson Jim Margolin.
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