Feds auctioning $25 million in bitcoins

The federal government is set to auction an estimated $25 million in bitcoins that were seized in criminal activities. The auction, scheduled for March 19, will be the seventh bitcoin auction held by the U.S. Marshals.

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Just now, Stephen said:

The federal government is set to auction an estimated $25 million in bitcoins that were seized in criminal activities. The auction, scheduled for March 19, will be the seventh bitcoin auction held by the U.S. Marshals.

To participate in the upcoming auction, potential bidders must make a $200,000 deposit?

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those bitcoins were seized in cases from the Drug Enforcement Administration I think.

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the question is will this auction raise or lower the price of bitcoins on auction day. Are the Feds taking profit?

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government sold 144,336 bitcoins at an average price of $334 last fall

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Back in 2014 and 2015, the government auctioned off Bitcoin seized during the dismantling of the Silk Road, an infamous dark web marketplace.

During that auction, venture capitalist and Bitcoin supporter Tim Draper purchased 29,655 bitcoins for a mere $19 million. Today, that Bitcoin is valued at over $320 million – not bad for a two to three-year investment.

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It's a government trap. Winner of auction is asking for an IRS audit!

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Feds looking to bring down BTC further. 

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