
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
The US Marshals Service has told that that they intend to auction off about 2,170 bitcoins, which is equivalent of more than $24 million. The given crypto assets were taken in federal crimes in March. As a matter of fact most of the listed crimes have to do with DEA administrative forfeitures that involve drug-related offenses.
The bitcoins are going to be split into 14 blocks made up of 100, 500 or 70 units. In order to take part in the auction, anyone interested should shell out a $200,000 deposit and complete all the necessary registration forms by March 14.
The winning bidders will be notified by March 19, although the release underlines that the overall complexity of the review process might provoke delays.
Considering the lack of fungibility that the popular crypto asset is currently facing, the terms of sale state that the provided receiving address is going to be thoroughly screened just to ensure that there hasn’t been any malicious activity.
Another crucial fact is that the purchaser will be bound to pay transfer fees. Given that for the last weeks Bitcoin’s transaction fees have considerably dived, it shouldn’t be a serious obstacle.
By the way, it wouldn’t be the first time that the American authorities have auctioned off Bitcoin gained from federal cases. In the beginning of 2018 up to 3,813 Bitcoin got auctioned off and bought by five bidders.
Back in 2014 as well as 2015, the authorities auctioned off the popular digital currency grasped during the shutting of an infamous dark web marketplace, the Silk Road.
During that auction, Tim Draper, venture investor and Bitcoin supporter bought 29,655 bitcoins shelling out up to $19 million. Bitcoin is currently valued at more than $320 m, which is quite good for a two to three-year investment.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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