U.S. Marshals Will Auction Bitcoins Valued at About $54 Million
- More than 3,800 bitcoin were seized as part of legal cases
- Past auction participants included Tim Draper, SecondMarket
Rodgin Cohen's Bitcoin Prophecy Entails Broad Regulatory Response
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The U.S. Marshals Service will auction off 3,813 bitcoins valued at about $52 million that were seized in connection with a number of high-profile federal, state and local cases including drug busts and money-laundering schemes.
The auction, the sixth by the Department of Justice agency, would likely raise a record amount for the government based on current prices. The sale will take place during a six-hour period on Jan. 22. The digital coins will be offered in 11 blocks, the largest of which will contain 813 bitcoins. Participants are required to make a deposit of $200,000, the agency said in a statement Thursday.