Home / Tech / The US supervision will auction off $53 million of bitcoins

The US supervision will auction off $53 million of bitcoins

A man binds his palm up while behest on a work of art inside the auction residence Christie's during the Post-War and contemporary Art sale Nov 15, 2006 in New York City. Christie's estimates that works by Warhol, Willem de Kooning, Roy Lichtenstein and others could go for up to $220 million in what the auction residence says may be the many profitable post-World War II and contemporary art auction in history. Warhol's 'Mao' mural from 1972 went for over 17 million, environment an all time record for the artist. (Photo by )Spencer Platt/Getty Images

  • The US Marshals Service announced Thursday that it plans to auction off approximately 3,813 bitcoins, worth about $53 million, that were seized in “various sovereign criminal, civil, and executive cases.”
  • Potential bidders have to register before Jan 19, and will need to put down a cold $200,000 deposition in sequence to participate. The deposition must be in US dollars and eliminated around ACH. The Department of Justice does not seem to accept bitcoin.
  • The coins will be auctioned off in blocks of 500, 100, and 813 — definition the smallest volume you could potentially squeeze would be 100 BTC. At Thursday’s prices, that would be roughly $1.409 million, yet it’s not transparent either the supervision auction will fetch prices next or above where the cryptocurrency is trade on other exchanges.
  • Since it’s not an open auction and bids are secret, winners will be told on Jan 22, the group says. 
  • The cost of bitcoin was down roughly 13% last week, as many cryptocurrencies fell following reports South Korea was formulation to moment down on exchanges. 

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