Australia to auction $11.5 million confiscated bitcoins

EY partner Adam Nikitins said the company expects interest from asset investment managers, currency exchanges, investment banks and hedge funds in North America and Europe.

“The number of bitcoin transactions since 2012 has quadrupled and parties are seeing more opportunities and uses for the technology,” said Nikitins.

The auction is not limited to Australian nationals.

On Friday, the price of bitcoin rose to $530, the highest level since August 2014. Trades involving the Chinese yuan are estimated to account for as much as 95 percent of bitcoin’s trading volume. The market value of all bitcoin in circulation amounts to around $8 billion.

Read more ... source: TheBitcoinNews