$ 37.3 million worth of Bitcoin will be auctioned, online registration opened

Today is the opening day to register for a significant Bitcoin auction. Crypto enthusiasts with a US bank account will be able to participate if they register before the February 12, 2020 deadline.


Registration for online Bitcoin auction. Source: Usmarshals

According to the United States Marshal Service (USMS), federal law enforcement will raise about 4,040 Bitcoin for sale, worth about $ 37.3 million, through an online auction held on February 18, 2020, from 8:00 am EST to 2:00 pm EST. Those who agree to register will receive the same-day notification via email.

The notice stated:

“USMS will notify the winning bidder (s) via email with instructions for the next step to complete their transaction on the same day as the auction, even after 5:00 pmpm EST. The winning bidder The purchase price (excluding deposit amount) must be deposited by wire transfer originating from a bank in the United States and providing a receipt for money transfer to USMS before 2:00 pmpm EST, on Wednesday, February 19, 2020.”

It is known that the total amount of cryptocurrency being auctioned was bought through 56 federal criminal, civil, and administrative cases, with many confiscations involving the Drug Enforcement Administration.

While Bitcoin is a peer-to-peer cryptocurrency that fosters an open financial system where everyone can participate, the auction is for the rich. To participate, bidders must register by the February 12 deadline and be able to meet the $ 200,000 required deposit.

The agency held the final Bitcoin auction in November 2018 when it put 660 Bitcoin on sale. In June 2014, billionaire investor Tim Draper bought nearly 30,000 Bitcoin for about $ 19 million from USMS at a public auction selling Bitcoin that was confiscated from the current Silk Road online market do not live. The purchase of Bitcoin is currently worth $ 279 million.

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