[2015-11-06] NDTV: US Holds Final Auction of Bitcoin From Silk Road Case

[polynesia]

US Holds Final Auction of Bitcoin From Silk Road Case

http://gadgets.ndtv.com/internet/news/us-holds-final-auction-of-bitcoin-from-silk-road-case-762055

The US government on Thursday began its final auction of Bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods.

The six-hour online auction began at 8:00 a.m. EST (1300 GMT) for about 44,341 Bitcoins worth more than $17.5 million (roughly Rs. 115 crores).

[stingers]

US Holds Final Auction of Bitcoin From Silk Road Case

http://gadgets.ndtv.com/internet/news/us-holds-final-auction-of-bitcoin-from-silk-road-case-762055

The US government on Thursday began its final auction of Bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods.

The six-hour online auction began at 8:00 a.m. EST (1300 GMT) for about 44,341 Bitcoins worth more than $17.5 million (roughly Rs. 115 crores).

Why did they take so long to put those coins on auction? What were they waiting for? For the price hike?