According to an official press release, the United States Marshals Service will auction close to $40 million worth of Bitcoin on the 18th of February, 2020. This will be the first auction like this, since 2018.
The Marshals will auction about 4,040 Bitcoin which at press time is $37.2 million. The bid is only open to interested bidders who register their intention to participate. All registrations must be done on or before Wednesday, February 12, 2020.
According to the announcement:
“The auction will take place during a six-hour period Feb. 18. Bids will be accepted by email from pre-registered bidders only.”
The Marshals also announce other details. For example, all interested bidders are to make a compulsory deposit of $200,000 before they will be allowed to bid. This amount will be returned to bidders if they don’t win their bids.
The Bitcoin will also be sold in four different series. This will be 2,500, 1,000, 500, and 40.54069820 respectively. The first three will also be further split into different sizes described in the official announcement.
All of the Bitcoin being auctioned was pulled from over 50 cases where different amounts were seized.
The last Bitcoin auction took place in November 2018. At the time, 660 bitcoins which were worth almost $4.3 million were sold off.
Image Credits: Pixabay
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