03/17 04:58 PM Atlanta, GA, USA
This was the exact moment 0.7501 Bitcoin (worth $43585.31 today) was sold to the highest among 31 bidders for $53,104. This is a whooping $9,519 difference in value as of right now despite the fact that officials refused to state the origin of the cryptocurrency. Impressively the starting price began at 25,000 dollars and doubled over the next day to the delight of everyone in the space. The agency, 'General Services Administration' was definitely pleased by such a resounding success, with the acting regional administrator telling 'The Washington Post' “Auctioning off this share of cryptocurrency broke new ground for our GSA Auctions platform, and we’re extremely pleased by the enthusiasm we’ve seen from our bidders,”.
The US government are certainly in possession of much larger amounts of cryptocurrency but to see such an amount be sold at such a premium is extremely bullish. Back in 2014, using confiscated funds from Silk Road, they sold 30,000 Bitcoin for a meagre sum of 19 million dollars. In 2020, another 4,000 Bitcoin was sold for ~37 million dollars which would mean they missed out on roughly 232 million dollars if sold today.
That 0.7501 Bitcoin is almost definitely heading into cold storage.
03/17 09:00 AM France
As bidding got underway for 611 Bitcoin auctioned through 437 lots between 0.11 - 2 BTC, many in the cryptocurrency space tuned in to spectate as coins were initially offered well below market price. This did not last long with one participant bidding 31,900 dollars for 0.11BTC. The French agency for the recovery and management of seized and confiscated assets tasked an auction house with liquidating Bitcoin seized from those involved in the 2019 GateHub hack. The hackers had initially stole XRP but later made the wise decision of trading them into Bitcoin. Despite the fact that a fee of 14.28% was being charged for transaction of the coins, bidders were not disheartened which is another very bullish sign.
Woorton, a Paris based digital asset market maker were responsible for 5 of the 28 million euros raised in the auction, among 1,500 other private buyers and companies which participated in France's first ever BTC auction.
What do you make of the auctions? Are the manner they happened in bullish?
