$22 million worth of Bitcoin sold in Australian-first auctio

[Skezaz]

Ernst & Young revealed today that it has successfully auctioned off 24,518 bitcoins worth around A$22 million ($16 million) as part of a scheduled auction after the Australian government confiscated the bitcoins from a Silk Road user.

[sotoshihero]

I think its the bitcoin they seized from "Satoshi Nakamoto" or the Australian Craig Wright ? Hope more and more countries will support bitcoin as a means of payment.

[shinratensei_]

Ernst & Young revealed today that it has successfully auctioned off 24,518 bitcoins worth around A$22 million ($16 million) as part of a scheduled auction after the Australian government confiscated the bitcoins from a Silk Road user.

Well, it's a big amount, like a whale. but after this auction, i don't know how the bitcoin rules in Australian. Does using bitcoin in their country is included in illegal activities.

[~Bitcoin~]

Ernst & Young revealed today that it has successfully auctioned off 24,518 bitcoins worth around A$22 million ($16 million) as part of a scheduled auction after the Australian government confiscated the bitcoins from a Silk Road user.

You can see there is margin between actual ($22 milliion) and buy price ($16million) so they will hold or keep selling small amount at a time to get that $6 million in profit, money attracts money. Link to the source of this news will be good to be posted in this thread.

[alyssa85]

That's interesting - and it didn't even move the price, so well done to them for managing to do the auction so skillfully.

[isvicre]

That's interesting - and it didn't even move the price, so well done to them for managing to do the auction so skillfully.

Well they made 99.9% profit on stolen coins so i wouldnt be too quick to praise them.

[BTCLovingDude]

Ernst & Young revealed today that it has successfully auctioned off 24,518 bitcoins worth around A$22 million ($16 million) as part of a scheduled auction after the Australian government confiscated the bitcoins from a Silk Road user.

wow, that's a lot of money. i am very interested to see if it is going to have any effect on bitcoin price.

i do believe that it will have zero effect but since a lot others are insisting on the opposite i like to see.

I think its the bitcoin they seized from "Satoshi Nakamoto" or the Australian Craig Wright ? Hope more and more countries will support bitcoin as a means of payment.

believe it or not Satoshi Nakamoto is anonymous and the coins you are think about are known and has never been moved.

also Craig Wright is a scammer who has nothing to do with bitcoin, he might have bought some in the dip his lies caused and dumped those after the rise but his involvement with bitcoin ends there.

[erikalui]

Usually when there is an auction, the price jumps like it happened last time. This time it did not affect the price at all and in fact it dropped. Still the amount they sold it for is less compared to the market rate.

[Altcoinsupporter]

Ernst & Young revealed today that it has successfully auctioned off 24,518 bitcoins worth around A$22 million ($16 million) as part of a scheduled auction after the Australian government confiscated the bitcoins from a Silk Road user.

You can see there is margin between actual ($22 milliion) and buy price ($16million) so they will hold or keep selling small amount at a time to get that $6 million in profit, money attracts money. Link to the source of this news will be good to be posted in this thread.

You are not right about this to be honest, in Australia they are using Australian dollars so the 22 million is in real dollars 16 million.
You need to read better... overall its a very big amount and also nice that they have auctioned it.

[HeroCat]

This can be reason why Bitcoin price go down from 750 USD price level. $22 millions in Bitcoin market can make some changes in the price. 

[outatime1]

Were they auctioned to one person or were there several groups of bitcoins auctioned off? I would rather they get spread out instead of one person controlling so many.

[Sniper44]

wow that is a lot of money in bitcoin, but it is interesting to see that this auction with all its big size and the negative hype some people spread had no effect at all on bitcoin price.