Ulbricht's conviction has been wiped out but his 144,000 Bitcoins are long gone.

On Wednesday, the price of bitcoin jumped to more than $104,000, following Donald Trump’s announcement of a presidential pardon for Silk Road and bitcoin-libertarian folk hero Ross Ulbricht. The digital asset community also eagerly anticipated a flood of crypto executive orders that would overturn years of perceived regulatory slights.

Recently pardoned Silk Road founder Ross Ulbricht might still have around 430 Bitcoin worth over $47 million across several wallets. According to blockchain researcher Conor Grogan, he has identified several wallets associated with Ulbricht holding the BTC.

Bitcoin, the world's largest cryptocurrency, approached the previous session's record high on Tuesday in choppy trading as the top U.S. markets regulator unveiled a plan to overhaul rules for the sector.

Bitcoin and other cryptocurrencies recoiled after Trump's first set of policies following inauguration did not refer to this asset class.