50,000 bitcoins Up for Auction

A few months back the USMS auctioned off approximately 30,000 bitcoins in an auction that Tim Draper was the sole winner of.

Fast forward and now the USMS will be selling another 50,000 bitcoins in another similar auction.

The bitcoins being sold in this auction are from the computers owned by Ross Ulbricht.

The coins originally seized on October 24th, 2013 remained dormant until January 27th, 2014 when the United States District Court for the District of New York entered a Stipulation and Order for Interlocutory Sale of Bitcoins. In this order, both the United States and Ross William Ulbricht agreed that “the United States, in its sole discretion, may sell any portion or all of these bitcoins, on a date or dates and in a manner to be determined by the Government.”

This sealed bid auction is for 50,000 bitcoins separated into two series: Series A (10 blocks of 2,000 bitcoins), and Series B (10 blocks of 3,000 bitcoins).

More details for those interested in the bidding process can find details on the USMS website at: http://www.usmarshals.gov/assets/2014/dpr-bitcoins/?m=1

 

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