Ross Ulbricht's Personal Items Auction Raises $1.8 Million in Bitcoin

An auction of personal items belonging to Ross Ulbricht, the founder of Silk Road, has raised over $1.8 million in Bitcoin. The auction, conducted on the Bitcoin-only marketplace Scarce City, featured a diverse range of items, including personal effects from before Ulbricht's 2013 arrest and memorabilia from his time in prison. The collection included items such as a sleeping bag, backpack, drum, lock, notebook, clothing, and several paintings created during his incarceration. Ulbricht, who was pardoned by Donald Trump earlier this year, expressed his intention to downsize and move forward, stating, "I’ve left Arizona, the state where I was in prison. It’s time to travel. That means downsizing and turning the page. I don’t need the reminders and I’m sure some of you will love to have them."

One of the standout pieces from the auction was Ulbricht's final prison ID card, which fetched 11 BTC, equivalent to over $1.1 million at current prices. Ulbricht commented on the ID card, saying, "The guard tried to get me to stop smiling for the photo, but my joy comes from within. So I smiled that day, even though I was in prison." Another notable item was a collaborative painting by Ulbricht and a fellow prisoner known as "Omega," which secured a winning bid of 1.01 BTC. Ulbricht described the artwork, stating, "It gave me the feeling that, if I could pass through it, something better would be on the other side."

The auction required bidders to deposit 1% of their bid as collateral, and last-minute bids reset the countdown timer to ensure fair competition. Final payments were due by June 2, with Bitcoin preferred, though smaller PayPal payments were also accepted. The auction's success highlights the enduring interest in crypto history and the significant value placed on items associated with key figures in the industry. Ulbricht's personal belongings, imbued with historical significance, have become highly sought-after artifacts for collectors and enthusiasts.

In addition to the $1.8 million raised from the auction, Ulbricht may have access to millions more in Bitcoin. Approximately 430 BTC, currently valued at around $47 million, remain in wallets likely tied to Ulbricht. These wallets have been inactive for over 13 years and were never seized by authorities. The existence of these dormant funds adds another layer of intrigue to Ulbricht's story, as they represent a substantial financial asset that could potentially impact his future endeavors.