The United States Supreme Court has declined to review a case concerning the ownership of 69,370 Bitcoins, worth approximately $4.38 billion at current market value.

These Bitcoins were seized by the US government from the illicit online marketplace Silk Road, which operated on the dark web.

Battle Born Investments, a company claiming to have obtained rights to the seized Bitcoin through a bankruptcy estate, had requested the review.

The US Supreme Court’s decision to decline hearing the case has paved the way for the US government to proceed with the sale of the stack of Bitcoin.

In 2022, Battle Born made a legal argument before a district court, followed by another argument in 2023 before an appeals court. The company claimed that it had lawfully acquired the BTC through a bankruptcy claim after the shutdown of Silk Road in 2013.

The United States Supreme Court receives over 7,000 cases for review annually but only selects 100 to 150 for consideration.

As a result of the Supreme Court’s decision, the US government has a higher probability of succeeding in its civil forfeiture action, which will enable it to proceed with the sale of the Bitcoin.

On July 29, the US government completed the transfer of around $2 billion worth of Bitcoin linked to the Silk Road. These transfers were specifically connected to the Marshals Service, an agency that utilizes Coinbase Prime for the custody of seized cryptocurrencies.