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Second Market outbid in U.S. Marshals bitcoin auction

01
Jul
2014

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Second Market, one of the more prominent bidders in the U.S. Marshals bitcoin auction, on Monday said it was outbid in its attempts to buy some of the nearly 30,000 coins sold late last week. The rejection of one of the biggest names in the bitcoin industry is a potentially encouraging sign for the long-term prospects of the crypto-currency because this means the auction drew a lot of interest from other institutional investors. On Friday, the U.S. Marshals Service auctioned off about 30,000 bitcoins seized during a raid on Silk Road, an Internet black-market bazaar where authorities say illegal drugs and other goods could be bought. The Marshals Service said it was notifying winners on Monday evening.

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