US Marshals Service Concludes the Final Bitcoin Auction

The much awaited bitcoin auction by the United States Marshals Service is finally over. The US Marshals Service, in possession of confiscated bitcoins from the Silk Road investigation auctioned the last of them earlier on Thursday.

Thursday’s auction had about 44,341 bitcoins worth $17.21 million out for bidding by those who had earlier registered with the US Marshals Service. According to reports, the online auction saw 11 bidders bidding 30 times over a span of six hours. Completion of the latest auction signifies liquidation of all the bitcoins seized from the wallets belonging to Silk Road and its creator Ross Ulbricht’s personal possession by Baltimore Task Force and US Marshals Service.

It was earlier speculated that Genesis Trading, a subsidiary of Digital Currency Group run by Barry Silbert and another bitcoin hedge fund by the name Binary Financial will be participating in the auction. However, the US Marshals Service has refused to divulge details about all the participants and winning bidders until the bitcoins are transferred from the federal agency’s possession to them. The Marshal Service is likely to release further information on Monday.

The Silk Road investigation was carried out

Read more ... source: NewsBTC USA