Silk Road Auction Snooze

Note from the CEO:  Only four (4) bidders for Silk Road Bitcoins put their money up. Bitcoin has been a bit docile lately (as has the gold and equity markets) but some smart buyers paid current market prices. No discount so read this as the price is pretty firm. FintekNews believes bitcoin outperforms gold in the future.

“The Latest US government auction related to Silk Road Bitcoins has come to an end. The highest bid was recorded at US$1.6m, although the winner was not revealed. A total of 2,700 Bitcoin were obtained for this price, which means he or she paid the current market price for the lot. Not as spectacular as some people would have hoped.

It was apparent from the start this latest Silk Road auction would not attract too many bidders. A lot of bitcoins have been auctioned off in the past already. While 2,700 coins are still the healthy chunk of change, no one paid more than the current market price for the lot. That is rather surprising when comparing this outcome to all previous auctions.”

Read Full Article at Bitcoinist