You can now buy Bitcoins in an auction, after it was announced that US Marshals are set to auction nearly $25million worth of the virtual currency, later on this month.
On Monday, it was announced by the government agency, that it will put nearly 3,000 Bitcoins up for auction, which is set to take place on 19th March. It should be noted though that there are some regulations surrounding those wishing to bid on the coins. They must complete the registration requirements by 14th March in order to participate, and this includes submitting a $200,000 deposit.
The auction will consist of 14 separate blocks, split up as follows; there will be two blocks of 500—BTC, 11 blocks of 100 BTC and one block, which accounts for 70 BTC. The reasons that there are so many Bitcoins to auction is an interesting one. According to the release, they were confiscated in ‘connection with various federal criminal, civil and administrative cases’, which range from federal trials to Drug Enforcement Agency actions.
If you are interested in where all of the seized Bitcoins came from, you can view them online. Interestingly, some of the Bitcoins that are being auctioned off have been traced to the case that involved ex Secret Service agent, Shaun Bridges, who was sentenced to prison, after being accused of stealing the funds during the Silk Road investigation.
This not the first time that the agency has auctioned off seized Bitcoins. Just last month they auctioned over 3,600 Bitcoins to just 5 winning bidders, which equated to more than $30million at the time of the auction.
So, if you are looking to get your hands on some Bitcoins, which have an interesting back story to them, the US Marshals auction could be the one for you!
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