Silk Road Funds Should Go To Bitcoin Reserve; Pierre Rochard urges Govt to Restrict Auction

Formerly a prominent marketplace that acted as a bridge between the real world and the dark web, Silk Road has been making its way to the headlines time and time again. While Ross Ulbricht continues to spend his time in prison, his obsolete website has been appearing in the crypto-verse, Hollywood as well as the White House. The latest news comes from a Bitcoin extremist who has been urging the government to restrict an auction related to the funds involved Silk Road.

Silk Road Again Makes News

Law enforcement and the government encounter several Bitcoins as well as other crypto assets. Although most of these are auctioned off, the money procured by Internal Revenue Services [IRS] back in November from Silk Road hacker also had the same address. Bitcoin maxim Pierce Rochard wrote a plea in a recent blog post. Rochard in his post urged the government to create a Bitcoin reserve and refrain from auctioning the seized Bitcoin worth $ 1.6 billion.

Rochard pointed out that an auction off BTC so acquired was a mistake as the crypto asset had a limited supply. He went on to reveal that the U.S. Attorney’s Office had filed a civil complaint for forfeiture. In urging the government to redress existing laws, Rochard wrote,

“I humbly ask our legislators to draft and pass a bill with amendments to the Judiciary Act of 1789 and any other applicable statutes. These amendments would, by operation of law, prevent the auction of any bitcoin (BTC) seized by the United States until future legislation is passed. “

Rochard ended his post by suggesting that BTC’s reserve would be “vital to our national security.”

Earlier this week, Silk Road and Ross Ulbricht were making noise at the White House. Like the White House, counsel’s office analyzed documents related to Ross Ulbricht’s double life sentence. According to some sources, US President Donald Trump had it expressed his sympathies with regard to the Ulbricht case. While this hope has been restored in many, many are waiting for the release of Silk Road, the film which is due to make its way into theaters in February.