The U.S. Marshals Service has announced that it will auction off more than 3,800 bitcoins later this month.
The auction will take place on Jan. 22, according to a representative from the service. The event marks the first time since 2016 that the U.S. Marshals Service has held a bitcoin auction, after the agency sold off 2,700 bitcoins – an amount worth about $1.6 million at the time and now valued at about $51 million – in August of that year.
At press-time prices, the 3,813 BTC up for grabs is worth roughly $54 million.
The forthcoming auction follows a similar structure, according to the agency, with the stash of 3,813 bitcoins being divided into multiple auction blocks.
The Marshals Service explained:
Prospective participants much register with the Marshals Service by noontime EST on Jan. 19, the agency said, a requirement that includes a $200,000 refundable deposit. The winner of the auction will be notified that same day.
The service had previously held several auctions in connection with bitcoins seized from the now-defunct dark market Silk Road. Over that months-long process, the Marshals Service auctioned more than 144,000 bitcoins.
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