This Wednesday, the French government opens an auction that is expected to generate 28 million euros from the sale of the cryptocurrency Bitcoin, which was confiscated from hackers in the field of information in 2019.
The auction organized on behalf of the French Agency for the Collection and Management of Seized and Confiscated Assets is the first of its kind in France. The coins were seized from individuals linked to the piracy of the GateHub trading platform.
The sales will be divided into two parts: a division consisting of 437 packages ranging from 0,11 to 2 Bitcoins, and a division consisting of 41 packages ranging from 5 to 20 Bitcoins. The auction is expected to fetch around 28 million euros.
And the Bitcoin currency exceeded 50 thousand euros on Saturday for the first time in its history, as analysts linked the rapid rise of the cryptocurrency in part to the adoption of the US stimulus plan.
Yves Bainaim, founder of the Swiss Currency Research Center, “2B4CH”, told Euronews that he allows the French Ministry to sell a confiscated item if it believes that its value will decrease, indicating that it is useful to sell it now, and bets are made that the price will decrease and that the current price of Bitcoin currency It was only just a bubble.
The analyst indicated that it is beneficial to start the auction at between 40 and 50 percent of the market price because this will motivate people to buy so that they can sell immediately.