The Currency Analytics
By Dan Saada
Bitcoin Auction – Wire Purchase
Bitcoin for Individuals Businesses and Developers
Forfeited Bitcoin from several Federal, Civil, and administrative cases will be auctioned by the US government.
The US Marshals Service, a federal law enforcement agency with the Department of Justice is holding the auction.
The for-sale notification read thus: "This sealed bid auction is for 4,040.54069820 bitcoin … The required deposit to participate in this auction is $200,000.00 USD.
The time factor they claim, “The number of bids received and the complexity of the review process may require additional review time.”
Sydney Ifergan, the Crypto Expert, tweeted: "So, the US government is permitting the auction of the Bitcoin, and it means that the token is navigating mainstream.
The winning bidder will be able to buy the Bitcoin through bank wire. Those who do not remit the payment by February 19 will be disqualified, and another bidder would be…
The USMS clearly stated: “These bitcoins were forfeited in various federal criminal, civil and administrative cases.”
The money came from a variety of cases like the "Drug Enforcement Administration (DEA), the Internal Revenue Service (IRS), the Federal Bureau of Investigation (FBI), the…
This is not the first time that Bitcoin is auctioned. The first bitcoin auction took place in 2014.
The interest for Bitcoin (BTC) grew as it was considered as money that is free from banks, charges, delays, and fraud.
The US budget deficit will pass the $1 trillion in 2020 for the first time. It is massive debt, and the interest burden is huge as well.
Printing more of Fiat money will lead to massive inflation. So, Bitcoin sustains its chance in the current scenario to serve as a store of value.