Usual suspects return to bid in latest US Marshals Bitcoin auction – CoinDesk


FXStreet (Barcelona) - The CoinDesk Analysis Team, notes that the second planned Bitcoin auction of 50,000 BTC by the US Marshals is attracting the same bidders who participated in the previous auction of 30,000 BTC.

Key Quotes

“A second planned auction of 50,000 bitcoins seized by the US government from alleged Silk Road mastermind Ross Ulbricht is attracting many of the same bidders who participated in the June sale of roughly 30,000 BTC taken from the illicit website itself.”

“Many of the more notable participants from the first auction, including Binary Financial, Bitcoin Investment Trust, Bitcoins Reserve, Mirror (formerly Vaurum), Pantera Capital and angel investor Tim Draper will be taking part once again in the 4th December event.”

“Although bidders admit that this auction is likely to receive less media attention, many firms are still looking to engage in the event for strategic purposes. The development suggests that interest in bitcoin as an investment opportunity remains high, even as auctions become less advantageous for participants given bitcoin’s maturing market.”

“As suggested by Yeh, the 50,000 BTC to be offered at auction represents just a portion of the 144,000 BTC originally confiscated from Ulbricht. The USMS has confirmed it will sell the remaining 94,000 BTC in coming months, though no dates have been set.”

“The money the USMS receives from the auction is still the subject of ongoing litigation, as Ulbricht has previously filed a claim to his holdings, which he alleges he obtained through lawful conduct.”

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