What strange times we live in when the U.S. government is involved in the business of Bitcoin.
Want to be the next Dread Pirate Roberts? You can get started by buying 50,000 bitcoins once owned by Ross Ulbricht (aka the Dread Pirate), who is awaiting sentencing on a litany of charges related to his operation of the Silk Road, a defunct drug marketplace.
On Wednesday, the U.S. Marshals Service announced that it would hold its next civil forfeiture auction on March 5 from 8am to to 2pm EST. The bitcoins will be auctioned off in 10 blocks of 2,000 bitcoins and 10 blocks of 3,000 bitcoins.
This will be the third such bitcoin auction. The first took place last June when Venture Capitalist Tim Draper bought approximately 30,000 bitcoins seized from the Silk Road, and was followed by another one in December in which a consortium of bitcoin investors bought another stash of 50,000 bitcoins once belonging to Ulbricht.
The new auction comes as the price of bitcoin has fallen precipitously…
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D.E. Cantor 