2,170 bitcoins, worth more than $24 million, are up for auction as the U.S. Marshals Service plans on selling off digital assets seized in federal crimes. With the value of Bitcoin continually predicted to increase, this might prove to be a lucrative opportunity for investors on the sidelines to cautiously make regulation-insured purchases.
Bitcoin to the Highest Bidder
The U.S. Marshals Service has announced that they will be auctioning off approximately 2,170 bitcoins, currently worth over $24 million, that were originally seized in federal crimes later this month. A majority of the listed crimes are associated with DEA administrative forfeitures, which consist of drug-related offenses.
The bitcoins will be broken up into 14 blocks consisting of 70, 100, or 500 units. To participate in the auction, individuals are required to put down a deposit of $200,000 and complete all the required registration forms by March 14th.
The winning bidders are to be notified by March 19th, but the release mentions that the “complexity of the review process” might lead to delays.
Dirty Wallets Need Not Apply
Related to the lack of fungibility that Bitcoin currently suffers from, the terms of sale imply that the provided receiving address will be screened thoroughly to ensure that …
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