Bitcoin Crashes as Australian Auction Closes
Bitcoin reached a low of $550 last night, down by more than one hundred dollars from $680 for the third day in a row. The unexpected crash coincides with the end of the first Australian Bitcoin Auction which closed around the same time as bitcoin’s price movement. 24,500 bitcoins, valued at $19 million prior to the crash, were sold in a 48 hours sealed-bid auction in 11 lots of 2,000 bitcoins and one lot of 2,518 bitcoins. The auction ended at 12.01 am on the 22nd of June 2016, just as price moved sharply. It is not currently known who participated or how many individuals/companies took....
Related News
Ernst & Young revealed today that it has successfully auctioned off 24,518 bitcoins worth around A$22 million ($16 million) as part of a scheduled auction after the Australian government confiscated the bitcoins from a Silk Road user. Financial services firm Ernst & Young oversaw the closed international auction, which was open to bidders from 20 June and ended 21 June, who supplied a deposit amounting to A$338,698 ($250,000) in addition to meeting other financial requirements. The price paid by the bidders and the number of bidders involved were not disclosed by E&Y; however,....
Oscar Mayer’s auction of their one-of-a-kind Dogecoin-themed pack of hotdogs “Hot Doge Wieners” sells for $15k. Oscar Mayer’s Hot Doge Wieners Auction Closes At $15k Oscar Mayer initially announced an auction for these Dogecoin-themed wieners five days back, with a starting bid of $0.99. The pack of hotdogs also came with 10k DOGE in value. […]
Three months after embracing crypto, Lloyds Auctions house reportedly sold a legendary rally car for $360,000 in Bitcoin. Bitcoin (BTC) adoption is growing in the auction world, where privacy is a key concern. An anonymous buyer purchased a legendary rally car driven by iconic rally figures Colin McRae and Carlos Sainz, which was thought to be long-lost in an auction for half a million Australian dollars ($360,000) and reportedly used Bitcoin as a payment method.Australian auction house Lloyds Auctions announced that the 1994 Subaru Prodrive 555 Group A World Rally Championship Car had....
More than $19m worth of bitcoin is now being sold at auction in a public sale overseen by professional services firm Ernst & Young. Announced on 30th May, the auction finds E&Y auctioning 25,518 BTC (worth roughly $19m at press time) over a 48-hour period that began at 12:01am AEST today. As previously reported, the bitcoins were confiscated by law enforcement officials from an Australian native in late 2014 in connection with a narcotics investigation. But with bitcoin trading at two-year highs, just who is interested in the auction and whether it draws the same number of....
The second Silk Road Bitcoin auction for a 30,000 chunk of Ross Ulbricht's personal bitcoins, which he agreed to have sold, has ended today. The US Marshal's Service (USMS) is reporting that 11 registered bidders submitted a total of 27 bids; in contrast, the first Silk Road Bitcoin auction had 35 registered bidders that put in 63 bids. After the first Silk Road Bitcoin auction, it was revealed that many of the bidders only put in under-market bids. Undoubtedly, said bidders did not return to the second round knowing the true demand for large chunks of bitcoins. However, the fast growth....