Share this article
Multiple Bidders Claim $16 Million in Australian Bitcoin Auction
As many as four bidders have claimed $16m in bitcoin recently auctioned off in Australia by Ernst & Young.
By Pete Rizzo
Updated Sep 11, 2021, 12:21 p.m. Published Jun 28, 2016, 2:58 a.m.
Ernst & Young revealed today that multiple bidders claimed 24,518 BTC (worth roughly $16m at press time) as part of a scheduled bitcoin auction that began on 20th June and ended on 21st June.
E&Y, the professional services firm that oversaw the sale, did not disclose the price paid by bidders or the number of bidders involved, though it said participants had been notified of auction outcomes.
STORY CONTINUES BELOW
Non perderti un'altra storia.Iscriviti alla Newsletter Crypto Daybook Americas oggi. Vedi tutte le newsletter
However, given that the funds were held in a publicly available bitcoin wallet, analysis indicates that as many as three to four winners were awarded funds in the sale. (The bitcoin wallet holding the funds was first identified by bitcoin user Adam Meister on YouTube).
Data from blockchain data provider Skry shows unknown winners claimed 13,999 BTC ($9.25m), 6,517 BTC ($4.27m) and 1,999.99 BTC ($1.31m), with the largest winner claiming seven 2,000 BTC blocks as part of the auction.
At press time, at least one transaction block was unaccounted for in the transactions, with 1,999 BTC still unspent in the original wallet.
In statements, E&Y transactions partner Adam Nikitins said that the auction drew “significant interest” from participants including bitcoin exchanges, digital asset investment funds and high net worth individuals.
Nitkins said:
"The process was very competitive and demonstrates the growing appetite for digital assets such as bitcoin."
Prior to the auction, participants indicated a willingness to enter the bidding process due to what they said has been the recent scarcity of bitcoin sellers given the sharp increases in the digital currency's price in the weeks leading up to the event.
As previously reported, the funds were originally confiscated by the Australian government in connection with the prosecution of a Silk Road user who plead guilty to commercial drug trafficking in 2014.
Australia auction image via Shutterstock
Більше для вас
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Що варто знати:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
