An public sale of private belongings from Silk Highway founder Ross Ulbricht has introduced in additional than $1.8 million price of Bitcoin as collectors vied for items of crypto historical past.
Ulbricht, who was pardoned by former President Donald Trump earlier this yr, supplied a spread of things by way of Bitcoin-only market Scarce Metropolis.
The gathering included private results from earlier than his 2013 arrest — similar to a sleeping bag, backpack, and drum — in addition to jail memorabilia like a lock, pocket book, clothes, and a number of other work created whereas incarcerated.
“I’ve left Arizona, the state the place I used to be in jail. It’s time to journey. Which means downsizing and turning the web page,” Ulbricht wrote on the public sale web page. “I don’t want the reminders and I’m certain a few of you’ll like to have them.”
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Ulbricht’s closing jail ID card fetches 11 BTC
One of many standout items, Ulbricht’s closing jail ID card, fetched 11 BTC — over $1.1 million at present costs. “The guard tried to get me to cease smiling for the picture, however my pleasure comes from inside,” Ulbricht commented. “So I smiled that day, though I used to be in jail.”
A collaborative portray by Ulbricht and a fellow prisoner referred to as “Omega” additionally drew consideration, securing a successful bid of 1.01 BTC. “It gave me the sensation that, if I might go by way of it, one thing higher could be on the opposite aspect,” Ulbricht mentioned of the paintings.
So as to take part within the public sale, Bidders needed to deposit 1% of their bid as collateral. Final-minute bids additionally reset the countdown timer to make sure truthful competitors.
Ultimate funds have to be accomplished by June 2, with Bitcoin (BTC) most popular, although smaller PayPal funds had been additionally accepted.
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Hundreds of thousands in Dormant Bitcoin
Along with elevating $1.8 million from the public sale and receiving important neighborhood donations, Ulbricht might have entry to thousands and thousands in Bitcoin.
Coinbase director Conor Grogan just lately highlighted that roughly 430 BTC, at present valued at round $47 million, stay in wallets probably tied to Ulbricht. These wallets have been inactive for over 13 years and had been by no means seized by authorities.
“I discovered ~430 BTC throughout dozens of wallets related to Ross Ulbricht that weren’t confiscated by the [US government] and have been untouched for 13+ years,” Grogan shared on X.
Blockchain analytics agency Arkham Intelligence confirmed Grogan’s evaluation, tracing 14 Bitcoin addresses related to Silk Highway. One in all these wallets alone holds greater than $9 million in BTC.
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