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Bitcoin Nears $16k As Feds "Seize" $1 Billion In Crypto Linked To 'Silk Road'

• Zero Hedge

Bitcoin continued its post-election surge overnight, getting close to $16,000 for the first time since Jan 2018 as the volume of global negative-yielding debt soars,

Source: Bloomberg

And while the initial Bitcoin strength mirrored altcoin weakness, that rotation has stalled and now the entire crypto space is rising...

Source: Bloomberg

And this strength is coming as the US Department of Justice announced that it has seized $1 billion worth of Bitcoin from the defunct Silk Road dark web market and that it is suing for the forfeiture of the money, reported Bloomberg.

As Decrypt's Robert Stevens reports, the funds moved Tuesday from the cryptocurrency wallet that was holding the 69,370 Bitcoin. This is the first time these funds had moved since 2015.

Blockchain investigation firms linked the coins to the Silk Road, a huge dark web marketplace shut down by the FBI in 2013. The Feds apparently then seized the funds from an anonymous hacker. Researchers believe this wallet contained the fourth-largest Bitcoin balance of any address.

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