itBit Winner of 3,000 BTC in USMS Auction, Identities of Other Two Winners Still Unknown

Wednesday, 11/03/2015 | 11:54 GMT by Leon Pick
itBit Winner of 3,000 BTC in USMS Auction, Identities of Other Two Winners Still Unknown

Bitcoin Exchange itBit says it had the winning bid for 3,000 of the 50,000 bitcoins being auctioned by the US Marshals Service (USMS). The USMS said that two other participants placed winning bids for the remaining lots of 20,000 and 27,000 BTC.

It is possible that participants placing winning bids at or near prevailing market prices a few days ago will realize a profit, as prices have continued to appreciate steadily. The total market value of the bitcoins is currently $14,500,000.

Bitcoin prices have slumped in the days and weeks following previous auctions. The waning of excitement that had built up in anticipation to the auctions is believed to have been a factor, although analyst assessments have warned of the markets getting flooded with excess coins.

Thus far, 100,000 of the 144,000 bitcoins seized from convicted Silk Road operator Ross Ulbricht have been auctioned, the remaining 44,000 to be bid on at some point later this year. These are in addition to the 29,656 BTC seized from Silk Road's servers, auctioned last June.

Bitcoin Exchange itBit says it had the winning bid for 3,000 of the 50,000 bitcoins being auctioned by the US Marshals Service (USMS). The USMS said that two other participants placed winning bids for the remaining lots of 20,000 and 27,000 BTC.

It is possible that participants placing winning bids at or near prevailing market prices a few days ago will realize a profit, as prices have continued to appreciate steadily. The total market value of the bitcoins is currently $14,500,000.

Bitcoin prices have slumped in the days and weeks following previous auctions. The waning of excitement that had built up in anticipation to the auctions is believed to have been a factor, although analyst assessments have warned of the markets getting flooded with excess coins.

Thus far, 100,000 of the 144,000 bitcoins seized from convicted Silk Road operator Ross Ulbricht have been auctioned, the remaining 44,000 to be bid on at some point later this year. These are in addition to the 29,656 BTC seized from Silk Road's servers, auctioned last June.

About the Author: Leon Pick
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