Will The New Silk Road Bitcoin Auction Affect The BTC Price?

It remains unknown as to how these bidders will value the price per Bitcoin, as it does not have to be the same as the current market price.
Another Bitcoin auction will be held by the US government on August 22, 2016. This auction is a lot smaller compared to previous ones, as “only” 2,700 bitcoins will be up for grabs. All of these coins were seized during investigations of Silk Road. Interested bidders must register by August 18 if they want to get their hands on US$1.6m worth of Bitcoin.

When the Silk Road platform was shut down by government officials a few years ago, significant amounts of Bitcoin were obtained in the process. Even though one of the investigators attempted to steal a large sum of cryptocurrency in the process, US Marshals continue to auction off remaining lots.

Source: NewsBtc

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