US Marshals Successfully Auction $30 Million in Bitcoin

World’s largest cryptocurrency i.e. Bitcoin have been efficaciously auctioned by U.S. Marshals. More than 3,600 bitcoins were auctioned in January as confirmed by USMS (U.S. Marshal Service) and were successfully transacted to the 5 bidders who won.

One of the prize winners was awarded 1600 bitcoin, which is valued $13.4 million confirmed the news on email. He was backed by the other bitcoin winners who won 500 ($4 million), 500($4million), 200 ($1.6million), and 813 ($6.7million) each. However, winner’s names were not disclosed except the one-person, Riot Blockchain who received 500 bitcoins right after the beginning of the auction.    

As auction started, the agency sold 100 bitcoins, which was much less than expected by many. This is said to happen as a result of some technical disturbance, and the remaining bitcoins are being safeguarded by the agency.

Furthermore, taking a step back, it is seen that year 2016 marked the beginning of sale which started by auctioning bitcoins. Earlier, the bitcoin value was very less as compared to the present day, due to which agency only made a profit of two million dollar after selling 2,700 bitcoins.

So, this year, recent sale announcement has been made by the US Marshals Service Agency firstly on 11 January. The announcement stated that agency would auction 3,800 or more bitcoin which has their estimated value around 54 million dollars. The next day after the auction, the agency announced that there are 62 unique bidders who have and had placed 111 bids for bitcoin.  However, the process for the registration was not free of charge. For registrations, bidders had to pay $200,000. Therefore, it was noted that in an auction that took place on 22 January bitcoins valuing 42 million dollars were sold.