U.S. DOJ Confirms No Bitcoin Sale from Samourai Wallet Case
- DOJ confirms no sale of Samourai Bitcoin.
- Bitcoin retained under Executive Order 14233.
- Market relief as sell-off fears reduce.
The U.S. Department of Justice confirmed on Tuesday that it will retain Bitcoin seized from the Samourai Wallet case, complying with Executive Order 14233 for inclusion in the Strategic Bitcoin Reserve.
The decision reassures markets by preventing sudden sell-offs, designating Bitcoin as a long-term asset, and aligning with federal cryptocurrency reserve strategies.
The U.S. Department of Justice has confirmed that Bitcoin forfeited from the Samourai Wallet case will not be sold. This decision aligns with the Executive Order 14233, directing assets to the Strategic Bitcoin Reserve.
The confirmation comes via Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets. He stated that the forfeited digital assets will remain part of the government’s Strategic Bitcoin Reserve.
The policy alleviates concerns about a market sell-off that could lead to volatility. The U.S. government has previously auctioned such assets, impacting the Bitcoin market.
The decision reflects a shift towards viewing Bitcoin as a strategic reserve asset. The retention policy is consistent with the government’s strategy to manage digital assets without immediate liquidation.
Executive Order 14233 formalizes this change, affecting how the government handles forfeited assets. The initiative mirrors a broader effort to accumulate Bitcoin as a long-term reserve.
Experts suggest this policy could stabilize the Bitcoin market by reducing supply shocks. Historical practices have often included auctions that introduced significant market stress during asset liquidations. As Patrick Witt noted, “The digital assets we hold will be maintained within the framework of Executive Order 14233 and will contribute to the Strategic Bitcoin Reserve.”
