Ross Ulbricht Auctions Personal Items, Raise $1.8 Million in Bitcoin (BTC)?

Jakarta, Pintu News – Ross Ulbricht, founder of the Silk Road marketplace, raised more than $1.8 million in Bitcoin (BTC) by auctioning off his personal belongings through Bitcoin-exclusive platform Scarce City. The auction attracted crypto history collectors from around the world.

Check out the full information here!

Details of Ulbricht’s Private Property Auction

The items up for auction include various personal items of Ulbricht before his arrest in 2013 and during his incarceration. These items include sleeping bags, backpacks, drums, and prison memorabilia such as his last identity card, clothing, and original paintings.

One of the most valuable items was Ulbricht’s last prison ID card, which sold for 5.5 BTC, more than $576,280 at current prices. The ID card has a unique story behind it.

Ulbricht noted that the guards tried to get her to stop smiling while the photos were being taken. However, Ulbricht insists that her joy comes from within. This adds sentimental value to the item, which is highly sought after by collectors.

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Auction Results and Ulbricht’s Future Plans

In addition to the ID card, a painting co-created with an inmate named Omega also attracted attention, selling for 1.01 BTC. Each bidder was required to deposit 1% of their bid as collateral, and the final bid extended the auction time to maintain fairness.

Ulbricht, who was pardoned by Donald Trump earlier this year, stated that he had left Arizona and did not need any more reminders of his past.

With the funds obtained from the auction, Ulbricht plans to start a new chapter in his life. He stated that the proceeds of the auction will be used to help with the transition to life after prison and support various projects that have yet to be disclosed.

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Untapped Bitcoin and Future Speculation

Beyond the auction proceeds, Ulbricht reportedly still has access to millions of dollars in Bitcoin (BTC). Conor Grogan, director of Coinbase, revealed that there are 430 BTC, worth approximately $47 million, still untouched in wallets associated with Ulbricht.

Arkham Intelligence has confirmed the wallets’ connection to Silk Road, with one of the wallets holding more than $9 million in Bitcoin (BTC).

This speculation about what Ulbricht will do with Bitcoin (BTC) adds intrigue to an already interesting narrative. Crypto collectors and market watchers are keeping a close eye on Ulbricht’s next move, which could have a significant impact on the market.

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Reference

• Crypto Times. Silk Road Founder Ulbricht Sells Prison Items for 1.8M BTC. Accessed on June 3, 2025
• Featured Image: Decrypt