http://www.afr.com/technology/ernst--young-16-million-bitcoin-auction-20160527-gp53i0Ernst & Young will facilitate the first Bitcoin sale process of its kind in Australia and only the second globally.
The US Marshals Service conducted several sales during 2015 following the arrest and conviction of Ross Ulbricht, the mastermind behind online drug marketplace Silk Road.
"This current wallet is an extremely large holding of Bitcoin," said Adam Nikitins, transaction partner at Ernst & Young.
"This will be a pretty hotly contested auction, more competitive than previous auctions because the price volatility has reduced."
One Bitcoin is currently fetching $654 and in the last two years has reached dizzying highs of nearly $1200 a coin and plumbed lows of $200.
FYI: $654 is in Australian Dollars not US$
The 24,518 Bitcoins were seized last year and will be split into 11 lots of 2,000 coins and one lot of approximately 2,518.
Bidders are able to bid on one lot or multiple lots and bidding registration opens on June 1 and closes on June 7.
The 48-hour sealed auction will take place at 12.01am on 20 June.
24,518 Bitcoins dropped on the Market on June 20th.
Speculations ?
Small Ripple in a pond or Massive Boulder?
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