4,040 ($37.7 Million) Bitcoin to Be Auctioned by US Marshals On February 18th

The US Marshals Service is going to auction almost $40 million in Bitcoin (BTC) for the first time since 2018.

It looks like about 4.040 BTC are going to be auctioned, which is at the moment worth $37.7 million. The bidders will be able to register until February 12, the Marshals Service press release says. The auction will take place on February 18, as the same press release writes:

“The auction will take place during a six-hour period Feb. 18. Bids will be accepted by email from pre-registered bidders only.”

$200,000 Deposit to be Made by the Bidders

The bidders will be required to make a deposit of $200,000 before they are able to make a bid. If they lose their bids, they will get their deposit back. The BTC are to be auctioned in 4 lots of 40.54069820, 500, 1,000 and 2,500 BTC each. The last 3 lots will be split into blocks that will have their own BTC set.

The BTC Comes from Over 50 Administrative Legal Cases and Forfeitures

According to the Marshals website, the BTC for the auction come from over 50 administrative legal cases and forfeitures. Marshals have been auctioning BTC ever since 2015. Its most recent auction of 660 BTC was in November 2018, raising more than $50 million in auctions that year.

The US Marshals Service Handles Many Types of Assets

The US Marshals Service is one of the United States’ oldest law enforcement agency. It started functioning in 1789, when President George Washington made an appointment for the first 13 Marshals. It manages many types of assets, from real estate to cash, financial instruments, art, jewelry, vehicles, collectibles, antiques, even aircraft and vessels. What it does more precisely is handling the distribution of payments and proceeds to third parties and victims of crimes.

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