$16 Million Worth of Bitcoin Auctioned in Australia

Financial services firm Ernst and Young has announced it has successfully auctioned off 24,518 Bitcoins at a closed international auction which ended on June 21. The auction was the first of its kind in Australia and the second ever globally.
Bidders were made to deposit $250,000 as well as meet other financial requirements to bid for the available 11 lots of 2,000 Bitcoins and one lot of 2,518 Bitcoins. Going by its current rate (1 BTC = $634), the auctioned 24,518 Bitcoins are worth about US$16 million.

This post was published at Coin Telegraph on 2016-06-29.