Andre Yoskowitz
18 Feb 2015 20:37
The U.S. Marshals service has announced they will be auctioning off another 50,000 bitcoins seized during the takedown of the original Silk Road underground marketplace.
As of writing, the coins will be worth $11 million, but of course they may not reach market value in an auction setting.
The next auction will take place on March 5th, from 8:00 EST to 14:00 EST, and all bids must come from serious pre-registered participants. To bid, you must be registered by March 2nd, and all winners will be notified on March 6th.
Because very large bidders are hard to come by, the auction will be split into 20 blocks: 10 for 2000 bitcoin and 10 for 3000 bitcoin. The current market value for one bitcoin is $235.
The agency has auctioned off over 100,000 bitcoins seized from the Silk Road and its operator Ross Ulbricht. Ulbricht was recently convicted of a plethora of federal crimes and will serve at least 20 years in prison.
Source:
Coindesk