Tech

US Marshals Are Auctioning Off $11m Worth Of Bitcoin

Published On 02/19/2015 Published On 02/19/2015
Supercompressor

Have you ever wondered what those people in the Confederate States of America felt like when all that money they converted into Confederate Dollars became obsolete after the South fell? 

You can bid to recapture that feeling, when US Marshals publicly auction off  50,000 Bitcoin (worth approximately $11,000,000) on March 5, 2015, that they seized from the nefarious dark-web market, Silk Road. Get it while itโ€™s (kind of) hot.

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This copious amount of Bitcoin was seized from Ross Ulbricht, the accused creator of the Silk Road, who risks life in prison for multiple narcotics-related charges. The Bitcoin will be auctioned off in 20 separate blocks, and you'll need to make a significant cash deposit to even bid on it.

Unfortunately for the US Marshals, the Bitcoin would have been worth significantly more if they would have auctioned it off immediately after seizure. Their worth is now estimated $235 per Bitcoin, after fluctuating significantly over the past several months. 

Hopefully, whoever wins these auctions will get their electronic money's worth. 


Wil Fulton is a Staff Writer for Supercompressor. He is worth 300,000 Bitcoin, dead or alive. Follow him @WilWithOnlyOneL

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