Ernst & Young reveals details of Bitcoin auction: 24,518 BTC sold, buyer's identity unknown

Ernst & Young today revealed the details of the Australian Bitcoin auction, which took place on June 20-21, with multiple bidders bidding for 24,518 BTC (worth approximately $16 million at press time). The Bitcoins were divided into 12 groups, 11 of which consisted of 2,000 BTC each and one of which consisted of 2,518 BTC.

EY, which oversaw the auction, did not disclose the price paid by the winning bidder or the number of bidders, but said the results had been communicated to participants.

However, given that the funds were held in a public Bitcoin wallet that was first discovered by Bitcoin user Adam Meister, analysis suggests that approximately three or four actors acquired the Bitcoins.

Data from blockchain data provider Skry shows that several unidentified bidding winners received 13,999 BTC (worth about $9.25 million), 6,517 BTC (about $4.27 million) and 1,999.99 BTC (about $1.31 million), respectively, and the largest winner received 7 groups of 2,000 BTC, or about 14,000 BTC.

As of press time, there is still a final set of 1,999 BTC left in the wallet, and the buyer has not yet transferred the bitcoins.

Adam Nikitin, a transaction partner at EY, said in a statement that the auction attracted "tremendous attention" from participants, including bitcoin exchanges, digital asset investment funds and wealthy individuals.

Nikitin said:

“The auction process was highly competitive, demonstrating the growing demand for digital assets such as Bitcoin.”

Participants indicate their willingness to bid before the auction takes place, and Bitcoin sellers have been scarce recently due to the sharp increase in Bitcoin prices in recent weeks.

According to previous reports, the bitcoins auctioned were confiscated by the Australian government and commissioned to EY for the auction.