Receive all Bitcoinist news in Telegram! 24 million, are up for auction as the U. Marshals Service plans on selling off digital assets seized in federal crimes. With the value of Bitcoin continually predicted to increase, this might prove to be bitcoin government auction lucrative opportunity for investors on the sidelines to cautiously make regulation-insured purchases.

24 million, that were originally seized in federal crimes later this month. A majority of the listed crimes are associated with DEA administrative forfeitures, which consist of drug-related offenses. The bitcoins will be broken up into 14 blocks consisting of 70, 100, or 500 units. 200,000 and complete all the required registration forms by March 14th. Also mentioned is the fact that the buyer will have to pay transfer fees associated with the purchase. Considering that Bitcoin’s transaction fees have significantly dropped in the last few weeks, this shouldn’t come as too much of a hassle. Earlier this year, approximately 3,813 Bitcoin were auctioned off and purchased by five bidders.

Back in 2014 and 2015, the government auctioned off Bitcoin seized during the dismantling of the Silk Road, an infamous dark web marketplace. Considering the regulatory process to participate and the return on investment from the previous auction, it wouldn’t be surprising if plenty of large net worth individuals flock toward this opportunity. Do you believe that participating in the auction is a smart move for investors? Do you think that the seized Bitcoin should have an alternate fate?

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Bitcoin is classified by the U. The government this week will auction bitcoins seized by authorities from a Russian hacker, a young Mormon accused of being an opioid kingpin and other high-profile cases. 50 million from Monday’s auction of 3,814 bitcoins. It is described as the largest government auction for the cryptocurrency, whose price has fluctuated wildly. Lynzey Donahue, a spokeswoman for the Marshals Service, declined to comment on the auction.