$22 million worth of Bitcoin sold in Australian-first auction
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,....
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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....
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....
The bitcoin community could soon see another high-profile auction of bitcoins confiscated from users of the now-defunct online black market Silk Road. Australian law enforcement officials are now in possession of 24,500 bitcoins (worth $9.4m at press time) following the conviction of their original owner, 32-year-old Warrandyte native Richard Pollard. Pollard was given an 11-year prison sentence today after pleading guilty to commercial drug trafficking, according to The Sydney Morning Herald. Judge Paul Lacava told Pollard at the sentencing: "The system of drug trafficking you engaged in....
More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable. At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596. Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result. The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of....