Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
SecondMarket and Bitcoin Investment Trust CEO Barry Silbert has released some decently interesting information this Saturday afternoon relating to Friday’s bitcoin auction held by the United States Marshals Service. To be clear, the results were not that of the auction itself, but the syndicate that Silbert formed shortly after the USMS announced the auction a couple of weeks ago.
According to Silbert, there were 42 bidders involved in the syndicate, with 186 bids received and a bitcoin quantity bid of 48,013.
Results of our US Marshals bitcoin syndicate: Bidders – 42 Bids received – 186 BTC quantity bid – 48,013 Winners notifed by USMS on Mon
— Barry Silbert (@barrysilbert) June 28, 2014
The syndicate was designed to allow smaller-scale investors get involved with the auction sans having to commit as if they had gone into the auction alone. Those requirements demand bidders submit a deposit of $200,000 from a United States bank account, in addition to meeting other registration standards.
As such, the collection of all bids received by the syndicate would then go toward the USMS auction, which ran for twelve hours from 6 am to 6 pm Friday. The minimum amount to have participated in the syndicate was $25,000.
Ten percent of auction fees collected from the syndicate will go directly to the Electronic Frontier Foundation.
Certainly, Monday will be interesting, but it’s unclear as to whether or not the Marshals Service will publicly announce the auction winners. There’s a good possibility that it will be kept undisclosed (to the best of the USMS’s ability). That is until the inevitable moment where someone involved provides more information.
We can likely expect Silbert to make additional comments on this matter come Monday. Stay tuned.
