December 4th USMS Bitcoin Auction Hub

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Most Recent Update: Dec. 9th - 10:40 AM EST - 15:40UTC Barry Silbert and the Bitcoin Investment Trust announce on Twitter that their syndicate won 48k of the 50k btc. Presumably, Tim Draper won the remaining 2k btc.


blockquote class=twitter-tweet data-partner=tweetdeckpAnnouncement: Pleased to share that the syndicate organized by a href=https://twitter.com/BitcoinTrust@BitcoinTrust/a amp; our trading division won 48k bitcoin auctioned by US Marshals/pmdash; Barry Silbert (@barrysilbert) a href=https://twitter.com/barrysilbert/status/542340947204648961December 9, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-partner=tweetdeckpAnnouncement: the syndicate we organized in conjunction with our trading division affiliate won 48,000 a href=https://twitter.com/hashtag/bitcoin?src=hash#bitcoin/a in the US Marshals auction/pmdash; Bitcoin Trust (@BitcoinTrust) a href=https://twitter.com/BitcoinTrust/status/542341054557872129December 9, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

We will update this page as we learn more

The US Marshals Service auctioned off 50k bitcoin on Thursday, Dec. 4th. They notified the winner(s) on Friday Dec. 5th. The auction is sealed however, and the USMS will not be releasing publicly the winner or the price they paid. In the last auction, the winner Tim Draper volunteered the information. We can only hope that the winner(s) of this auction do the same. (He never gave us a firm price but he did volunteer that he won all 30k bitcoin. Then other bidders disclosed the price of their losing bids leading to the general conclusion by most people that he paid at or around market price back in July. Roughly $600.)

What We Know: Venture Capitalist Tim Draper, who won all 30k of the bitcoin auctioned by the USMS earlier in the year, only won a single block of 2k bitcoin in this auction. In an email to NYTimes reporter Sydney Ember, Draper seems to imply that he was outbid. “I will have to buy some more Bitcoin on the open market to fulfill my commitment to the new batch of Boost companies,” Mr. Draper said in an email. That would suggest that Draper did indeed bid for more than just one block but was outbid. Draper has been very bullish so this may suggest that the price per bitcoin was over market price.

Our USMS Auction Hub was the go-to source as the news unfolded and will be updated as more information becomes available. We also offer breaking news alerts so you can be notified immediately when any USMS Auction results come out.

According to the US Marshals service, there were 11 bidders in the auction. However, some of those bidders were syndicates that pooled bids from many smaller bidders. For instance, there were 104 bids place through the Bitcoin Investment Trust syndicate but the USMS only counted that as a single bidder. At this point, all bidders now know whether or not they won any of the auctioned bitcoin, but Tim Draper is the only one who has made a public announcement. We hope to hear more public announcements regarding individual bid outcomes during this week, but we remind you that it is up to each bidder whether or not they choose to disclose their bid and result.

Last Update: Dec. 9th - 10:40 AM EST - 15:40UTC


1) Dec. 3rd - Our Executive Editor, Matt Odell, believes that the sale price will be around or above current market price.

blockquote class=twitter-tweet data-partner=tweetdeckpUSMS a href=https://twitter.com/hashtag/Bitcoin?src=hash#Bitcoin/a auction is tomorrow. We may never know price but I think it will be around or above current market price of $375. a href=https://twitter.com/hashtag/BTC?src=hash#BTC/a/pmdash; Matthew Odell (@mattodell) a href=https://twitter.com/mattodell/status/540281716922130432December 3, 2014/a/blockquote

blockquote class=twitter-tweet data-conversation=none data-cards=hidden data-partner=tweetdeckp2/ If you#39;re a large investor you#39;ve been waiting for this USMS sale for awhile. This is by far most legitimate way to buy so much a href=https://twitter.com/hashtag/bitcoin?src=hash#bitcoin/a./pmdash; Matthew Odell (@mattodell) a href=https://twitter.com/mattodell/status/540287939767705602December 3, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none data-cards=hidden data-partner=tweetdeckp3/ With roughly 5bn USD market cap, buying a href=https://twitter.com/hashtag/bitcoin?src=hash#bitcoin/a at current MKT price is already a discount if you think a href=https://twitter.com/hashtag/btc?src=hash#btc/a has longterm promise./pmdash; Matthew Odell (@mattodell) a href=https://twitter.com/mattodell/status/540289073441931264December 3, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

2) Dec. 4th - According to the USMS, there were only 11 registered bidders this auction, who placed a total of 27 bids. In the previous USMS auction there were 45 registered bidders who placed 63 bids. The number of registered bidders fell 75%.

3) Dec. 5th - One of the reasons that the number of registered bidders fell may because of increased usage of syndicates by bidders instead of directly bidding in the auction. The auction had at least one syndicate, the Bitcoin Investment Trust. Syndicates allow smaller bidders to place bids through the syndicate and they are pooled together before being submitted to the US Marshals service. For instance, there were 104 bids place through the Bitcoin Investment Trust syndicate but the USMS only counted that as a single bidder.

blockquote class=twitter-tweet data-partner=tweetdeckpResults of our US Marshals bitcoin syndicate: #10; #10;Bids received - 104 #10;BTC quantity bid - 124,127#10; #10;Winners notified by USMS today/pmdash; Barry Silbert (@barrysilbert) a href=https://twitter.com/barrysilbert/status/540865242801405952December 5, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

4) Dec. 5th - The CEO of Bitcoin Investment Firm, Pantera Capital, said all of their bids were placed below market.

blockquote class=twitter-tweet lang=enpBidding closed for US Marshals a href=https://twitter.com/hashtag/Bitcoin?src=hash#Bitcoin/a auction. Pantera placed bids below the market. Results out tomorrow by 2pm PST. Probably earlier./pmdash; Dan Morehead (@danpantera) a href=https://twitter.com/danpantera/status/540669052797341696December 5, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

5) Dec. 5th - As per the rules of the auction, the US Marshals Service reserves the right to choose not to sell the bitcoin at this time if auction bids prove unsatisfactory.

6) Dec. 5th - 2:50PM EST - 19:50UTC(Unconfirmed) Sydney Ember of the NY Times tweets that Tim Draper told her in an email that he won a single block of 2,000 bitcoin in the auction.

blockquote class=twitter-tweet data-partner=tweetdeckpTim Draper, who swept the first Bitcoin auction in June, says he won just one block of 2,000 Bitcoins in yesterday#39;s auction./pmdash; Sydney Ember (@melbournecoal) a href=https://twitter.com/melbournecoal/status/540948814790938625December 5, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-cards=hidden data-partner=tweetdeckpa href=https://twitter.com/BTCMarketCap@BTCMarketCap/a email from Draper./pmdash; Sydney Ember (@melbournecoal) a href=https://twitter.com/melbournecoal/status/540952936000815104December 5, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

7) Dec. 5th - 3:10PM EST - 20:10UTC Hard to imagine Draper bidding way under market. Could be a good sign if it is real, since it suggests majority of winning bids were higher than his, if he did in fact bid for more than one block of bitcoin. Seems the market is responding similar to me, price just shot up $5 on both Bitfinex and Bitstamp.

8) Dec. 5th - 3:39PM EST - 20:39UTC Interesting video considering the circumstances. Tim Draper on Bloomberg talking Bitcoin and yesterday's USMS (doesn't say anything about winning auction blocks)

9) Dec. 5th - 4:09PM EST - 21:09UTC Coindesk has confirmed that Tim Draper Wins 2,000 BTC in Second US Marshals Bitcoin Auction.

10) Dec. 5th - 4:38PM EST - 21:38UTC Looks like Coindesk edited their article about Tim Draper and now cite a Bloomberg article as their source. The Bloomberg article cites an email they received from Draper.

11) Dec. 5th - 5:08PM EST - 22:08UTC Per the [rules of the auction],(http://www.usmarshals.gov/assets/2014/dpr-bitcoins/) all winning bidders should have been notified of the result at this point. As a result, if you are a bidder and haven't been notified at this point, you have lost. We should start hearing from losing bidders shortly.

12) Dec. 5th - 6:26PM EST - 23:26UTC Sydney Ember just released the article that she alluded to in the earlier tweet. In her article she quotes Draper “I will have to buy some more Bitcoin on the open market to fulfill my commitment to the new batch of Boost companies,” Mr. Draper said in an email. That would suggest that Draper did indeed bid for more than just one block but was outbid. Draper has been very bullish so this would suggest that the price per bitcoin was over market price.

13) Dec. 8th - 10:10 AM EST - 15:10UTC Second Market's Bitcoin Investment Trust is holding an event at the Bitcoin Center NYC tonight at 7PM on Wall Street. The Bitcoin Investment Trust is thought to be the largest syndicate to bid in the USMS Auction, but they have yet to release any details about their bid result. They may be waiting until the event to make that info public.

14) Dec. 8th - 10:51 AM EST - 15:51UTC The Bitcoin Address holding the 144k controlled by the USMS just sent two transactions. One for 100000 BTC and one transaction for 44341 BTC. Would seem to suggest that a single bidder won all but a few blocks in the auction. Tim Draper has already said he won 2k bitcoin so that leaves 4k bitcoin unaccounted for.

15) Dec. 8th - 2:09 PM EST - 19:08UTC The USMS appears to be splitting the transaction for 100k bitcoin into many different wallets. The 44k bitcoin however is being kept in one single wallet. Seems like an attempt to obfuscate the actual transfers to the winning bidders. Seems like one bidder may have won 44k bitcoin.

USMS bitcoin

16) Dec. 8th - 3:04 PM EST - 20:04UTC Looking at the blockchain transactions again, it actually looks like the 44k bitcoin and 50k bitcoin are the leftover USMS balances. That would mean that out of 11 bidders, each bidder won some amount of bitcoin. If that is in fact the case, that means that the addresses for the winning bidders are as follows:

193cMMMsnfPp1NAdnud9tJCk9WTBVXL6Nw 5k BTC 1Cg9JmZzve5kX5mQoSy1kznA2DrHtTS1aF 5k BTC 1AonDxGgP6mk79YYgP3kZvjo5p7LWX77Q2 5k BTC 1JhbFzMs2eAQHeuQZAkMCNvk2ZyZQiCeRw 5k BTC 1L5RoTFTEupVJ8uVuFrDEJE3aN2D7T9nLQ 5k BTC 1Ltb2vCU8bEg62vZzhvQeUxLLYzUXRXTfi 5k BTC 12yyGP7aHeJL18rzSXXaQ94uX5vN34t4iq 5k BTC 19tjMYDuuwyBbUA3mo3FpKw7pQp7A1aR4T 5k BTC 1PxEeikjqCU2L5nS5vxAuMzhLqYx5erVuB 5k BTC 1MFz2bnUzPRXUZmi4JaCi9J1Gvgp883mH4 3k BTC 1L4BGWV5gouT2zX2PgsgyzH5hDKThzN9xa 2k BTC

The address that sent the bitcoin to the above addresses is this one: https://blockchain.info/address/1E9QDjSzUMuYdy4vePXxZhmkGeopkm1VfZ

17) Dec. 8th - 5:15 PM EST - 22:14UTC Many of the bitcoin located at the addresses listed above are on the move. Looks like either the winning bidder(s) or the USMS is trying to hide their transactions.

18) Dec. 9th - 10:40 AM EST - 15:40UTC Barry Silbert and the Bitcoin Investment Trust announce on Twitter that their syndicate won 48k of the 50k btc. Presumably, Tim Draper won the remaining 2k btc.

blockquote class=twitter-tweet data-partner=tweetdeckpAnnouncement: Pleased to share that the syndicate organized by a href=https://twitter.com/BitcoinTrust@BitcoinTrust/a amp; our trading division won 48k bitcoin auctioned by US Marshals/pmdash; Barry Silbert (@barrysilbert) a href=https://twitter.com/barrysilbert/status/542340947204648961December 9, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-partner=tweetdeckpAnnouncement: the syndicate we organized in conjunction with our trading division affiliate won 48,000 a href=https://twitter.com/hashtag/bitcoin?src=hash#bitcoin/a in the US Marshals auction/pmdash; Bitcoin Trust (@BitcoinTrust) a href=https://twitter.com/BitcoinTrust/status/542341054557872129December 9, 2014/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

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