Senator Cynthia Lummis expressed concerns about the US Marshals’ plans to sell 69,370 Bitcoin confiscated during the Silk Road raid. In a letter dated January 15, she encouraged the Marshals to reconsider the transaction, particularly considering the time of the presidential transition. Lummis, a passionate bitcoin booster, claims that trading Bitcoin today undermines the new administration’s plan for a National Bitcoin Reserve.
According to Lummis, the timing of the sale is significant because it could jeopardize efforts to establish a national Bitcoin stockpile, a key proposal of President-Elect Donald Trump. The senator warned that the choice to sell could result in enormous losses for taxpayers, citing previous sales that resulted in over $18.5 billion in unrealized value.
The argument highlights the growing contradiction between the government’s handling of seized assets and its evolving policy stance on Bitcoin, even though the transaction is not yet complete. Lummis has been actively campaigning for a strategic Bitcoin reserve, which has the potential to transform how the United States looks at and deals with Bitcoin in the future.
Lummis is also involved in continuing conversations about converting some of the country’s gold holdings to Bitcoin, which would decrease immediate fiscal implications while increasing the United States’ position in the global digital currency market. As disputes continue, the development of a Bitcoin reserve remains a key issue in US crypto policy.
