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Apparently Bitcoin is worth something and legimate enough to sell.  The US attorney's office announced plans to sell 513 Bitcoin worth more than $8.5 million siezed in a drug and money laundering case. Don't tell the SEC.

Shamo Bitcoin

Image: Aaron Shamo from his arrest in 2016

In 2016 prosecutors in Utah seized 513.1490393 Bitcoin, a BMW and a Ford truck from Aaron Shamo and six others. They also seized a similar amount of Bitcoin Cash that's worth another $1.6 million at today's prices. There is a store of wealth it seems but not how Shamo and co expected after there prosecution for distributing controlled substances and money laundering. Have to ask how did they get the key?

"The BTC and BCH have been transferred to a Government wallet. Due to the volatile market for cryptocurrencies, the BTC and BCH risk losing value during the pendency of the forfeiture proceedings.  The costs of storing and maintaining these items during the pendency of the sentencing and forfeiture proceedings may significantly reduce the funds available from their sale." the statement reads. 

(Nothing to do with this might be a good time to sell at $16, 500 from around $400 per $BTC when it was siezed.)

"The parties all accept that there are inherent risks to conducting transactions in cryptocurrencies and the parties agree to hold harmless the agents and agencies in the transaction in a good-faith effort to fulfill the purpose of the stipulated motion," the motion said. 

Call me cyncial given the statements out of governemnt angencies and major bankers like Jamie Dimon. Good to see some good luck go law enforcements way on this siezure though!

Source: United States v. Aaron Shamo et al

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