If you’ve always wanted bitcoins but didn’t want to go through all those math problems, now’s your chance.
Uncle Sam will auction off $17.5 million worth of its $85 million bitcoin stash later this month to anyone with $200,000 and a government ID.
The FBI took hold of the digital currency last year when Manhattan US Attorney Preet Bharara shut down covert drug e-commerce site Silk Road and the FBI arrested its alleged founder, Ross Ulbricht.
The seizure made the federal government one of the largest owners of bitcoins, a digital currency that can be mined by solving complex mathematical equations.
Uncle Sam’s stash was worth $150 million at its peak. But the currency is volatile and has suffered severe dips this year amid concerns about its widespread adoption and impending regulation.
Bitcoins are now worth $590 per bit, down from over $1,000 per bit in December, according to Coindesk.com.
This week, Uncle Sam gave the US Marshals Service 29,656 of its 144,336 stash to sell in an online auction. Starting on Monday, interested parties can submit forms to the Marshals Service to participate in the auction.
While bitcoins are favored for their ability to protect their owners’ identities, Uncle Sam is, not surprisingly, requiring names, addresses and Social Security numbers.
Folks who are eligible for the auction can then bid on the coins on June 27 between 6 a.m. and 6 p.m., the Marshals Service said.
Despite its association with criminal activity, the virtual currency has also been gaining mainstream credibility of late. For example, satellite-TV provider Dish Network recently said it will start accepting the digital currency as payment in July.