US Marshal’s 30,000 Bitcoin bounty SOLD to just one bidder
If you’re still wondering who the winners are in the Bitcoin auction held last week, you’ll be delighted to know that the US Marshals Service has already announced the winner – yes, that’s in singular form – but did not reveal their identity nor how much was paid for the whole cache.
“The U.S. Marshals Bitcoin auction resulted in one winning bidder,” Lynzey Donahue, a spokeswoman for the Marshals Service, said in a statement. “The transfer of the Bitcoins to the winner was completed today.”
The agency reported 45 registered bidders took part in the auctuon, and said it received 63 bids for the digital booty in total. Bidders were notified on Monday if their bids were accepted or rejected and many voiced their disappointment for not winning the bid. Nevertheless, many were delighted that Bitcoin is getting more attention now with its value slowly on the up again.
The seized Bitcoins were auctioned off in 9 blocks of 3,000 coins and one block with 2,656.51 coins. That’s almost 30,000 Bitcoins, which are valued at close to $19 million according to the current exchange rate. Based on those bidders who revealed how much they offered for the bounty, it’s likely that the selling price may have been very close to today’s value. CoinApex CEO and co-founder Alex Waters revealed that he bid on one block of 3,000 Bitcoins at $403 each. The reason behind the low bid was that Waters thought syndicates would not be permitted by the Marshals Service.
So what does this mean for the Bitcoin network? Purchasing thousands of Bitcoins could result in an increase in its value by as much as $100, but if that single winner decides to sell the all of their Bitcoins at once, such an action could depress the market.
Bitcoin startups could benefit greatly from owning such a huge stash of Bitcoin, especially if they’re offering services to help others get started on Bitcoin, such as small businesses.
Question now is, who is this mystery buyer? And what will they use their 30,000 Bitcoins for?
photo credit: antanacoins via photopin cc
Since you’re here …
… We’d like to tell you about our mission and how you can help us fulfill it. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content.
If you like the reporting, video interviews and other ad-free content here, please take a moment to check out a sample of the video content supported by our sponsors, tweet your support, and keep coming back to SiliconANGLE.
