Citi: Ross Ulbricht Bitcoins Likely to Sell For Discount at USMS Auction

CitiThe United States Marshals Service (USMS) is set to auction off 50,000 BTC took from alleged Silk Roadway mastermind Ross Ulbricht this Thursday, and if a new research note from financial huge Citi proves precise, individuals might be able to acquire bitcoins at a steep discount rate.

Penned by Citi’s worldwide head of FX approach Steven Englander, the internal note suggests that bitcoin’s recent decrease in value versus the dollar will certainly trigger participants to “lowball their bids relative to the existing market price”.

Englander asserted that the prospect of future bitcoin auctions is most likely to affect bidder habits, as the USMS has actually shown it will soon seek to offer off the about 94,000 BTC still in its possession in the coming months.Continue reading

at CoinDesk CoinDesk

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