Looking for fresh bitcoin (BTC)? The United States Marshals Service is auctioning around $ 37 million in seized BTC. It is about 4,040 bitcoin.

The bitcoin come from more than 50 different cases. It is therefore confiscated BTC that are sold. The Americans do not disclose exactly where the money comes from.

The first batch, Series A, will see 2500 BTC being auctioned in five blocks of 500 BTC each, followed by 1000 BTC in 10 blocks, 500 BTC in another 10 blocks, and the last batch of 40.54 BTC.

The bidders will need to deposit $200,000 per registration form for the bid, and will have to submit multiple forms if they want to bid different prices for different blocks, the USMS said.

Bidders all around the world can participate, the auction will take place on February 18 and you can register here until February 12.

 

More bitcoin

The American police organization has been working on this type of auction since 2014. In November 2018, for example, 660 bitcoin were auctioned. That year was a fun year for the government branch accountant, as more than $ 50 million of seized bitcoin was auctioned.

Why It Matters

Auctions have been the preferred method for the United States law agencies to dispose of the bitcoin seized in various legal cases.

Venture capitalist Tim Draper famously won about 29,656.5 BTC in a USMS auction of assets seized from the Silk Road marketplace website. The bitcoin worth about $17 million at the time would be worth $275.4 million at press time.