The Government's Bitcoin Auction Is Playing Right Into Bitcoin Bulls' Hands
Jul 1, 2014, 01:09 IST
Bitcoin prices are up more than 5% as it appears sales of the government's Bitcoin stash produced some bullish results.
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The U.S. Marshals service has not yet released the official results. But Barry Silbert, whose SecondMarket put together a syndicate of 42 bidders, just said they were all outbid.
The auction was unlikely to have gone any other way, given that we are talking about a collection of wealthy Bitcoin bulls getting the chance to bid each-other up in a totally controlled environment. Still, assuming the nearly 30,000 coins the government was auctioning go for a premium, it'll make for some good headlines.
Prices are now at $632. Here's the chart:
Coindesk
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