Bitcoin rallies above $600 after U.S. Marshals auction

Bitcoin News


Article from – Bitcoin prices rallied above the $600-level on Monday, after the U.S. Marshals Service auctioned nearly 30,000 bitcoins seized from the infamous online black market Silk Road late last week.
Bitcoin (BTC/USD) rose to a session high of $639.20 on Slovenia-based BitStamp, the most since June 11, before trimming losses to last trade at $627.48 during U.S. morning hours, up 5.3%, or $31.56.
The price of a Bitcoin on Bulgaria-based BTC-e jumped 6.26%, or $36.92, to trade at $626.60.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency tacked on 4.8% to trade at $627.37.
The U.S. Marshals Service auctioned approximately 30,000 Bitcoins, valued at nearly $18 million, on June 27. The auction ran for nearly 12 hours and the successful bidders are due to notified later Monday.
The bitcoins were auctioned off in nine blocks of…

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