US Marshals Auction Over 2000 More Bitcoins

US Marshal's Office Auction off 2170.7 more Bitcoin

On March 19th, the Office of the US Marshal's held an auction for another set of government seized Bitcoin. They successfully auctioned off a total of 2170.7 Bitcoin, which were received by a total of 2 persons after receiving a total of 39 bids. This is the second auction held this year, with the first being held in February. In February, they auctioned off over 3600 Bitcoins, which were received by 5 winning bidders.

The most recent auction consisted of 14 lots of Bitcoin, one of which was approximately 70 Bitcoins, and the rest consisting of 100 or 500 Bitcoins. One bidder received the lot of 70, with the other winning bidder receiving the other 13 blocks, or approximately 2100 Bitcoins. So far, neither of the bidding winners have identified themselves.

The US Marshal's office still has possession of a few thousand seized Bitcoins, but will likely hold off on auctioning anymore off in the near future. This is perhaps to protect the market from too much a supply increase and a possible price drop. So far, the office has taken steps to prevent any harm of the market from their auctions.

Do you guys think the US Marshal's Office has taken good steps through these auctions? What do you think future Bitcoin auctions might look like?

Let us know in the comments below.

-Isaiah Croatt-

Chief Research Officer
CoinLion LLC

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