US Marshals Will Auction $40M in Bitcoin This Month
The U.S. Marshals Service plans to auction more than 4,000 bitcoin, worth about $37.7 million at press time, later this month.
Feb 3, 2020 at 4:30 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VMW7GPPTHFEBZJW7TCCULUYSCU.png)
Image via Wikimedia Commons
The U.S. Marshals Service is auctioning nearly $40 million in bitcoin, the first such auction since the end of 2018.
The Marshals will auction "approximately" 4,040 bitcoin, worth $37.7 million at press time, according to CoinDesk's Bitcoin Price Index, to registered bidders on Feb. 18, the press release said. Potential bidders must register by Feb. 12.
"The auction will take place during a six-hour period Feb. 18. Bids will be accepted by email from pre-registered bidders only," the release said.
Bidders will also be required to make a $200,000 deposit before being able to bid. Participants who do not win their bids will receive these back.
The bitcoin will be sold in four lots, with 2,500, 1,000, 500 and 40.54069820 bitcoin each. The first three lots are further split into blocks, each with their own set number of bitcoin.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HM75A6QATNCMXJR7J2CNCQT4NM.png)
The bitcoin for this month's auction come from more than 50 administrative forfeitures and legal cases, according to the Marshals' website.
The agency has auctioned bitcoin since at least 2014. It most recently auctioned 660 bitcoin in November 2018, and raised well over $50 million in auctions during that year alone.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.