Ernst & Young to sell $16 million in confiscated Bitcoin during auction in Sydney

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“Given a quantum of Bitcoin that are going to a market, we wish to make sure that people can finish a transaction.”

Off-market sales are a many common routine of traffic with vast quantities of seized property, generally glass resources such as banking or shares. 

“If we go by a routine of putting them by public exchanges, a poignant sell sequence would pull a cost down,” pronounced Mr Nikitins. “Not too separate if we were to pierce a whole lot of BHP or Apple shares.”

In 2015, a US Marshals Service seized 144,000 Bitcoins from Ross Ulbricht, value around $US122 million ($169.7 million) at a time, and auctioned off a cryptocurrency in identical lots.

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