U.S. Government Begins First Ever Bitcoin Auction

As reported in our earlier post, the U.S. Government has begun its first ever auction of Bitcoins. The Bitcoins to be auctioned were seized in connection with the shutdown of the Silk Road - the "dark net" site that served as a marketplace for illegal goods. The U.S. Marshals Service has announced that 29,656.51306529 bitcoins will be auctioned in this initial round. The reported value of the Bitcoins to be auctioned, at the time of the announcement, is approximately $18 million U.S. Dollars.


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