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Under the alias Dread Pirate, Ross Ulbricht introduced it in February 2011. In October 2013 the FBI closed down the website, and Ulbricht was taken into custody and given a life sentence. Other governments have also been selling their Bitcoin holdings in recent months. For example the German government has been selling off a significant portion of its $2 billion worth of Bitcoin holdings.
Unfortunately, large sales are coming in amid a period of high volatility on the market, where Bitcoin struggles to hold above $60,000. However, the precise motivations behind this transfer are unknown to the public. Usually the money raised from these sales goes toward funding different government initiatives or is given back to the people who were harmed in the crimes linked to the seized property.
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