The U.S. is suing for the forfeiture of thousands of bitcoins, totaling more than $1 billion, that it recently seized, the Department of Justice said Thursday.
Since the coins have sat dormant in the wallet for years, unavailable for trading, their confiscation appears unlikely to have played any role in the recent run-up in bitcoin’s price. On the contrary, if the government were to auction them as it typically does, the coins could rejoin the circulating supply.
This is a developing story; refresh for updates.
Read the court filings below: