The crypto market faced a 5% dip this week as news broke that the U.S. Department of Justice (DOJ) had been approved to sell 69,370 Bitcoin seized from the Silk Road darknet marketplace. Valued at $6.5 billion, this Bitcoin stash has been the subject of a prolonged legal battle.

A federal court dismissed claims by Battle Born Investments, which sought ownership of the Bitcoin through a bankruptcy estate, clearing the path for the DOJ to liquidate the assets.

Why the DOJ is Selling Now

Citing concerns over Bitcoin’s price volatility, the DOJ argued that holding onto the assets posed a risk of value loss. A spokesperson confirmed the sale would proceed under the U.S. Marshals Service, marking one of the largest crypto liquidations in history.

The decision follows the U.S. Supreme Court’s October rejection of an appeal challenging the seizure. Efforts to reveal the identity of “Individual X,” who initially surrendered the Bitcoin, also failed.