Bitcoin Shop Registers With U.S. Marshals Service For Bitcoin Auction
With news that the United States Marshals Service is planning to auction off about 30,000 bitcoins later this week (seized from the Silk Road illicit marketplace in 2013), big names are looking for some way to get involved.
One such name happens to be Bitcoin Shop, Inc., an online retail store that sells a variety of products that can be purchased using the bitcoin digital currency.
The company said on Monday that they have submitted registration with the United States Marshals Service in direct relation with the bitcoin auction. It’s the prerequisite to the actual bidding process, which will take place on Friday, June 27th.
In order for an entity to register for the auction, they must first wire a $200,000 [refundable] deposit via a United States bank account. Bitcoin Shop says they’ve completed this step, but is awaiting final approval from the Marshals Service.
“We believe in the future of virtual currencies and have made a strategic decision to participate in this unprecedented opportunity by wiring the deposit and submitting a registration application to the USMS,” said Charles Allen, CEO of Bitcoin Shop. “We look forward to updating shareholders on the status of our application and any subsequent bid after June 27, 2014.”
Bitcoin Shop isn’t the only bitcoin-related company to want to take part in the auction. SecondMarket/Bitcoin Investment Trust CEO Barry Silbert recently announced the formation of a syndicate that would collectively bid in Friday’s auction.
And last week, the Marshals Service inadvertently revealed a list of entities that had expressed interest in the auction, which includes Bitcoin Shop, a Coinbase executive, and a staffer at BNP Paribas.
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