$22 million worth of Bitcoin sold in Australian-first auction

If you had a couple of million to spare last week, you could have won yourself a very healthy haul of Bitcoin.

On Tuesday, financial services firm Ernst and Young announced it had successfully auctioned off 24,518 bitcoins. The bitcoins are worth around A$22 million ($16 million) by current value. One bitcoin is currently worth A$891.95 ($657.89) as at time of publication.

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The closed international auction, which ended on June 21, was open to bidders who supplied a deposit of $250,000 (A$338,698) and met other financial requirements. There were 11 lots of 2,000 bitcoins and one lot of 2,518 bitcoins. Each lot was worth well in excess of A$1 million, although bidders could have paid less.

Ernst and Young did not disclose the amount generated by the auction nor the identities of participants. According to Ernst and Young transactions partner Adam Nikitins, the auction attracted interest from “Bitcoin exchanges, digital asset investment funds and high net worth individuals.”

“We are pleased to report that the auctions were highly successful and all bidders have been notified of the auction outcomes,” he said in a statement.

“The process was very competitive and demonstrates the growing appetite

Read more ... source: TheBitcoinNews