More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable.
At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596.
Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result.
The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of a 2013 raid on the Silk Road marketplace. The current market value of those bitcoins is approximately US$17.7 million.
Final results of the auction will be confirmed later today.
