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US Marshals will auction off another lot of 50,000 bitcoins

The US Marshals will auction off 50,000 bitcoins that were seized from Silk Road
By: Michael Hatamoto | Business, Financial & Legal News | Posted: Nov 18, 2014 5:53 pm

The US Marshals plan to auction another lot of 50,000 bitcoins, worth around $19 million, which were seized when the federal government shuttered the original Silk Road. The second auction is scheduled to run for two weeks, and a winner will be announced on Dec. 5. The second auction takes place five months after a lot of 30,000 bitcoins were sold off by the US Marshals.




The first auction was won by venture capitalist Tim Draper, and the value of bitcoins have dropped from $647 down to $384 - but should still draw fierce competition from bidders able to pay the required $100,000 deposit to the US Marshals.


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