How are these two intrinsically related? #Narrative #Warfare is about timing. #btc #bitcoin #nostr 1. HBO documentary came out 8 Oct, 2024 2. #US Supreme Court Rejects Case Over $4.38 Billion in Seized Silk Road Bitcoin ⁉️ WHY did they reject the case? Credit to Kelvin Munene Published:8th Oct, 2024 at 5:00 PM The US Supreme Court has declined to review a case concerning 69,370 Bitcoins, valued at roughly $4.38 billion, earlier recovered from the infamous Silk Road darknet market.  This decision probably extends legal proceedings on the cryptocurrency’s ownership, asserting the US government's capability to manage and further dispose of the seized assets. Battle Born Investments, a firm that claimed to have acquired rights to Bitcoin through a bankruptcy estate, was unsuccessful in persuading the higher courts that it legitimately owned the cryptocurrency.  The Supreme Court's refusal to accept the case signifies a pivotal halt in the legal contest, affirming the lower courts' rulings, which consistently favored the government's stance. Legal Journey and Government Actions The journey through the courts began after the Silk Road was shuttered in 2013. Battle Born Investments alleged that it bought the rights to Bitcoin from Raymond Ngan, the debtor in the associated bankruptcy proceedings and purportedly "Individual X," who illicitly acquired a substantial amount of Bitcoin from Silk Road.  However, both the district court in 2022 and an appellate court in 2023 found Battle Born's claims to be legally insufficient, denying them any stake in Bitcoin. The Supreme Court's decision could pave the way for the US government to proceed with civil forfeiture actions, potentially including the sale of Bitcoin. This move has historically influenced market dynamics due to the volume of assets.  For instance, a similar situation occurred when the German government released nearly 50,000 Bitcoin into the market, significantly impacting Bitcoin's market price due to the influx of a large asset volume. Political Implications and Cryptocurrency Handling The upcoming US presidential election is looming, with Republican candidate Donald Trump proposing a "strategic Bitcoin stockpile," suggesting a potential strategic retention of the cryptocurrency rather than its immediate sale.  Conversely, Democratic candidate Kamala Harris has not disclosed her plans regarding managing seized cryptocurrencies, adding a layer of uncertainty to the asset's future. This scenario spotlights the US government’s handling of cryptocurrencies seized from criminal enterprises. The outcome could set precedents for how such digital assets are treated by national governments, impacting both legal frameworks and cryptocurrency markets.  The government's previous actions, including transferring about $2 billion worth of Silk Road-linked Bitcoin on July 29, managed by the US Marshals Service and customized through Coinbase Prime, exemplify the significant logistical and market considerations involved in handling large volumes of seized cryptocurrencies.