Bitcoin auction has been a thing for crypto investors. Last November 2018 when the last auction happened. The amount of Bitcoin in the upcoming auction was acquired through criminal and illegal cases.
The registration for the big auction is now open for those who are located in the US, and can join the said event if they were able to register on time. February 12 is the deadline while the online auction will happen on February 18, 2020, from 8 am - 2 pm EST.
The winner will be notified through email, the same date with the auction. The auction is oper for everyone as long you have the capability of meeting the required deposit amounting to $200,000.
The federal law enforcement agency will put an estimated 4,040 Bitcoin or an amount of (current value is $38,563,173).
Source:
https://dailyhodl.com/2020/02/03/37000000-in-bitcoin-btc-for-sale-by-us-government-registration-for-online-auction-begins/
Here's the link to US Marshals Service where you can see more and additional information regarding the auction.
https://www.usmarshals.gov/assets/2020/febbitcoinauction/
We all heard of Bitcoin auction even for once right? It's usually done by the government whenever there's a bitcoin involvement. I know not everyone does this but after 2018, here's a chance for those who do auctions.
Auction is not my thing, of course, I don't have that much money needed to meet the requirements. It's is really indeed for wealthy people only. I can only buy bitcoin through exchange depending on the amount of money I can invest. Since I lack knowledge regarding this, I have questions, what can you say about buying Bitcoin that was used in doing illegal activities? Does it have any differences with the usual thing we do? Does it have lesser value because it was from illegal activity or does it cost higher because of the bidding? And what does the government do after receiving money from the auction? Do they use it in a proper way or simply, do they add it to the government's asset?
Sorry for the multiple questions but I'm just curious about it. Also a disclaimer, I'm not posting this to promote the site, not the event, I just want to share the news with everyone.