Boom Goes The Bitcoin


Dropped, as Yoda would say, the other shoe has. U.S. Marshals are now selling off 29,656.51306529 BTC, about $18 million in bitcoin at today’s $600 price. The sale announcement drove prices down for a brief period overnight moving the needle down from $620 to $608.

Another cache of $83 million worth of bitcoin is also being allegedly auctioned off by the FBI. Anyone who didn’t see this coming was delusional.

Note that the U.S. Marshals are also treating this like a seized assets sale and not a currency sale. This also does not include Ross Ulbricht’s BTC which are stored in another wallet in his name. The government is treating this no differently than a drug lord’s jet ski or Cadillac. And don’t expect to waltz in and pick these up at a song – every potential bidder has to pony up $200,000 just to be in the…

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