itBit Winner of 3,000 BTC in USMS Auction, Identities of Other Two Winners Still Unknown

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term itBit says it had the winning bid for 3,000 of the 50,000 bitcoins being auctioned by the US Marshals Service (USMS). The USMS said that two other participants placed winning bids for the remaining lots of 20,000 and 27,000 BTC.

It is possible that participants placing winning bids at or near prevailing market prices a few days ago will realize a profit, as prices have continued to appreciate steadily. The total market value of the bitcoins is currently $14,500,000.

Bitcoin prices have slumped in the days and weeks following previous auctions. The waning of excitement that had built up in anticipation to the auctions is believed to have been a factor, although analyst assessments have warned of the markets getting flooded with excess coins.

Thus far, 100,000 of the 144,000 bitcoins seized from convicted Silk Road operator Ross Ulbricht have been auctioned, the remaining 44,000 to be bid on at some point later this year. These are in addition to the 29,656 BTC seized from Silk Road's servers, auctioned last June.