Standing before a live audience on stage in Las Vegas at Bitcoin 2025, Ross Ulbricht marked a dramatic turn in his life story, addressing the crowd on the exact date—May 29—that a federal judge sentenced him to two life terms plus 40 years without parole a decade ago.

Ulbricht, the creator of the Silk Road marketplace, was freed earlier this year after President Donald Trump issued a full pardon shortly following his inauguration. The case, which sparked long-standing debate about sentencing and digital liberty, had kept Ulbricht behind bars since 2013.

“I’m free, and it’s because of you. You made this moment possible,” Ulbricht told attendees, thanking supporters who had advocated for his release over the years. His remarks, made during his Bitcoin 2025 speech, highlighted themes of “freedom, decentralization, and unity”—values he linked closely with Bitcoin’s founding principles.

In his speech, Ulbricht spoke candidly about the years he spent in prison and the challenges of adapting to rapid technological change since his release. “I effectively went into a time capsule in 2013. And now I’m coming out like Rip Van Winkle,” he said. He described never having seen a drone or experienced virtual reality before his release and noted the explosion in cryptocurrency adoption since his incarceration.

Referencing Bitcoin’s evolution, Ulbricht said, “When I launched Silk Road, buying a whole bitcoin would set you back less than a dollar. Pocket change. Can you imagine that?” He added:

Now, they’re worth over $100,000 each.

Ulbricht also emphasized the philosophical underpinnings of Bitcoin, saying, “Bitcoin doesn’t work without freedom. Bitcoin’s power comes from the fact that any one of us can mine if we choose to.” He continued:

We are all on equal footing with Bitcoin. With Bitcoin, we are all free.

The crowd responded with sustained applause, reflecting Ulbricht’s symbolic status in parts of the cryptocurrency community. President Trump’s pardon of Ulbricht was one of his first high-profile clemency decisions following his return to office. The move was celebrated among libertarian circles and crypto advocates. In addition to his speech, Ulbricht raised around 16 BTC worth $1.69 million with his pre-arrest gear and prison memento auction.

In closing, Ulbricht urged the crowd to remain committed to the principles that had shaped both his case and the broader crypto movement. “Freedom, decentralization, unity,” he said. “Stay true to these principles—and the future is ours.”

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