2016-06-04 Sat

Auction of confiscated bitcoins has been a trend now in the U.S and for the first time it is set to happen in Australia. Bitcoins worth as much as 16 million Australian dollars will be auctioned. Officials say that the bitcoins were confiscated as proceeds of crime connected to the currently de-functioning online dark market Silk Road. Since August 2014, the demand for bitcoins has increased remarkably leading to an appreciation to $530 on Friday.