German regional authorities plan to auction the confiscated property to implement 126 Bitcoin, which was seized from local drug dealers. The government of the state of Hesse expects that the cost of sales of cryptocurrency will be around $ 2 million.
It is worth noting that at the time of withdrawal Bitcoin from criminals in 2014 year, their market value does not exceed 50 thousand dollars, now after the three-year period was 40 times more due to a significant increase in the cost of tokens.
The local law enforcement agencies said that Bitcoin under the category of perishable products, so they are to be implemented in the framework of the standard bidding confiscated. When will be organized the sale, and what are the conditions of value of the BTC against the background of the market price, is not disclosed.
It should be noted that the fact of seizure of the cryptocurrency not only in Germany, but official statistics on this category is not conducted, and to organize its plan only from 2018. It will allow us to have accurate data on the amount of cryptocurrency held by the state.
It is worth noting that the world already has successful experience of conducting similar auctions in which the government sells confiscated digital assets. In particular in the United States in a similar way, sold coins, previously seized from the defunct Silk Road project. Later, a similar auction was held by Australian and South Korean authorities.