Over the past few years, law enforcement agencies have confiscated thousands of bitcoins. In every case, these proceeds are auctioned off to the highest bidder.
It has been a while since such an auction took place in the United States.
A Major Bitcoin Auction is Coming up
For those interested in some cheaper BTC, one such auction is coming up soon.
Over 4,000 BTC will be up for grabs on February 18.
The cryptocurrency stash will be sold in smaller lots by the U.S. Marshals Service.
The lots are divided into 2.500 BTC, 1,000 BTC, 500 BTC, and the remaining 40.54 BTC respectively.
Anyone willing to participate in this event will need to put up a $200,000 deposit.
Where these bitcoins come from exactly, has not been shared with the public at this time.
Given the vast amount of cryptocurrency to be auctioned, it seems unlikely that these come from just one criminal investigation.
Instead, it is more likely an accumulation of funds over the past few months.
These types of Bitcoin auctions have become somewhat famous.
The first auction saw Tim Draper pick up roughly 30,000 BTC.
Given how those increased in value, this upcoming “sale” may be a golden opportunity for high rollers.
With a current market value of nearly $40 million, the bids should be on the higher end of the spectrum.