The final Silk Road Bitcoin auction: who will get the most?

According to coindesk, the Bitcoin auction to be held on Thursday in the United States will auction more than 44,000 BTC (worth 125.8 million yuan as of press time). Genesis Trading, a subsidiary of Digital Currency Group (DCG), and Bitcoin hedge fund Binary Financial have confirmed that they will participate in this Bitcoin auction.

The U.S. Marshals Service (USMS) announced the auction in October, which will be held UTC时间11月5日12:00 －18:00 It is the last batch of bitcoins seized by the U.S. government from Silk Road operator Ross Ulbricht, who was sentenced to life in prison in May.

At the initial auction, DFJ partner Tim Draper won nearly 30,000 BTC, which is also seen by some as a turning point in Bitcoin's history.

“In terms of the auction, it signals a very important turning point in terms of bitcoin being a legitimate and legitimate instrument,” Sunny Ray, CEO of Indian bitcoin exchange Unocoin, commented.

Regarding the upcoming Bitcoin auction, Genesis Trading CEO Brendan O'Connor said that participating in the auction was just a simple business decision for the company.

“From our perspective, any opportunity to buy or sell large amounts of bitcoin, we should take it. This is just a very good opportunity,” he said.

Participants unknown

However, in O'Connor's opinion, he believes that many previous auction participants will also participate in this auction for the same reason.

Representatives from Cumberland Mining, Pantera Capital, Falcon Global Capital and investor Tim Draper did not respond to interview requests about the auction.

In addition, the Marshals Service will not announce the specific number of participants in this auction , which is different from previous auctions.

Elsewhere, representatives from Coinbase and itBit declined to comment on the auction.

Cameron and Tyler Winklevoss, founders of the Gemini Bitcoin exchange, made it clear that they would not participate in the auction:

“We generally do not participate in auctions where there is limited information, the probability that the winner will receive a curse is high, and the probability of receiving a low price is low.”

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Original article: http://www.coindesk.com/genesis-trading-binary-to-bid-in-final-silk-road-bitcoin-auction/
By Pete Rizzo
Compiled by: Satuoxi
Editor: Satuoxi
Source (translation): Babbitt Information