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The US supervision will auction off $53 million of bitcoins

A male binds his palm adult while behest on a work of art inside a auction residence Christie's during a Post-War and contemporary Art sale Nov 15, 2006 in New York City. Christie's estimates that works by Warhol, Willem de Kooning, Roy Lichtenstein and others could go for adult to $220 million in what a auction residence says might be a many profitable post-World War II and contemporary art auction in history. Warhol's 'Mao' mural from 1972 went for over 17 million, environment an all time record for a artist. (Photo by )Spencer Platt/Getty Images

  • The US Marshals Service announced Thursday that it skeleton to auction off approximately 3,813 bitcoins, value about $53 million, that were seized in “various sovereign criminal, civil, and executive cases.”
  • Potential bidders have to register before Jan 19, and will need to put down a cold $200,000 deposition in sequence to participate. The deposition contingency be in US dollars and eliminated around ACH. The Department of Justice does not seem to accept bitcoin.
  • The coins will be auctioned off in blocks of 500, 100, and 813 — definition a smallest volume we could potentially squeeze would be 100 BTC. At Thursday’s prices, that would be roughly $1.409 million, yet it’s not transparent either a supervision auction will fetch prices next or above where a cryptocurrency is trade on other exchanges.
  • Since it’s not an open auction and bids are secret, winners will be told on Jan 22, a group says. 
  • The cost of bitcoin was down roughly 13% final week, as many cryptocurrencies fell following reports South Korea was formulation to moment down on exchanges. 

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