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One bidder wins all 30,000 bitcoins from the US Marshal Bitcoin Auction

Discussion in 'BlackHat Lounge' started by Patel, Jul 2, 2014.

  1. Patel

    Patel Jr. VIP Jr. VIP

    Mar 1, 2011
    Likes Received:
    On the coast
    Did you guys hear about this?

    Last year, the Silk Road Marketplace was shut down by the U.S. government. They recently had an auction of 29,656 bitcoins in seperate auctions of 3,000 each.

    One bidder claimed all the bitcoins. The auction was a sealed bid auction, so bidders had to submit their best offers. Many believe the winning bidder placed a bid significantly above market value to win all of the bitcoins.

    I wouldn't be surprised if the winning bidder was a well known bank or wall street company. Total price probably surpassed $20m for the whole bulk.

    The second half of this year is going to be very interesting. With New York Department of Financial Services releasing Bitcoin regulation guidelines early July, and 60-90 days after they will start releasing licenses to Bitcoin businesses. With all the hundreds of millions of dollars that was pushed into these Bitcoin startups, you're going to see massive marketing campaigns for these guys to start bringing volume to their businesses. Crazy to think, this could be the beginning of something huge.

    Here is the full article:

    Official auction details: