An online auction featuring personal belongings of Silk Road founder Ross Ulbricht has raised more than $1.8 million in Bitcoin, marking a significant event for collectors of crypto history.
Crypto Collectors Flock to Own Pieces of History
Ulbricht, who was recently pardoned by former U.S. President Donald Trump, listed the items on the Bitcoin-only auction platform Scarce City. The auction featured a wide range of personal memorabilia, including:
- Pre-arrest belongings like a sleeping bag, backpack, and drum
- Prison artifacts such as a lock, notebook, clothes, and artwork made during incarceration
“It’s time to travel. That means downsizing and turning the page,” Ulbricht wrote on the auction page. “I don’t need the reminders and I’m sure some of you will love to have them.”
Prison ID Card Fetches Over $1.1 Million
The standout item was Ulbricht’s final prison ID card, which sold for 11 BTC, equivalent to over $1.1 million at the time of sale.
“The guard tried to get me to stop smiling for the photo, but my joy comes from within,” Ulbricht shared.
Another notable item was a collaborative painting with fellow inmate “Omega”, which fetched 1.01 BTC. The artwork held emotional significance for Ulbricht, symbolizing hope during his sentence.
Auction Mechanics and Participation
Bidding required a 1% BTC collateral deposit, and last-minute offers reset the countdown timer to ensure fairness. While Bitcoin was the primary payment method, PayPal was allowed for smaller balances. All payments are due by June 2.
Dormant Bitcoin Holdings Raise Questions
Beyond the auction, Ulbricht may still control significant digital wealth. Coinbase executive Conor Grogan revealed that approximately 430 BTC, worth around $47 million, remain in wallets potentially linked to Ulbricht and untouched for over 13 years.
“I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the government,” Grogan posted.
Arkham Intelligence validated the claim, tracing 14 Bitcoin addresses connected to Silk Road, including one with over $9 million worth of BTC.
Conclusion
Ross Ulbricht’s auction has not only raised millions but also reignited public interest in one of the most significant figures in Bitcoin’s early history. As discussions continue about dormant crypto wallets and Ulbricht’s future, this auction underscores the intersection of digital assets, legacy, and freedom.