By John Glenday

Australia has announced that it will auction off 24,518 Bitcoins with an estimated market value of £8m in June following their seizure by law enforcement officials.

Confiscated from criminals as ‘proceeds of crime’ the haul is reported to have been obtained from a Victoria based drug dealer in 2013 and is only now being considered for sale as the market price for a Bitcoin hits £362, its highest level since August 2014.

Australian officials will also be mindful of a looming reduction in the number of new Bitcoins doled out as a reward for miners processing transactions on 14 July, when the Read full story ›

Source: The Drum