Australia Makes Plan To Sell 8 Million Euros Worth Of Seized Bitcoin

Photo source: blog.newegg.com

24,518 bitcoins would be sold in blocks of just 2,000 each with a market value of about E680,000.

 Bitcoin is a payment system introduced in 2009 in which users make peer-to-peer transactions without an intermediary.

 Ernst&Young, a firm organising the auction, said that the bitcoin had been "confiscated as proceeds of crime."