Home / Latest Bitcoin News / Swedish authorities just auctioned off seized bitcoin – and the state made a proper killing

Swedish authorities just auctioned off seized bitcoin – and the state made a proper killing

For the first time ever the Swedish Enforcement Authority has seized assets in bitcoin in order to settle a debt.

“There is a lot of bitcoin in circulation within organized crime. We have encountered this on many occasions but never been able to get into the digital wallets before,” Johannes Paulson, in charge of operations development at the Swedish Enforcement Authority, tells SvD Näringsliv.

A 0.6 bitcoin was seized from a company in western Sweden, currently corresponding to approximately SEK 23,000. It seems the Enforcement Authority made quite a bargain, however – the highest bidder in the auction was prepared to pay SEK 43,000, Di Digital reports.

“It’s confounding,” Ludvig Öberg, business developer at Chromaway and co-founder of the bitcoin market Safello, says to Di Digital.

“I have two theories. One is that the premium is motivated by the publicity that may be associated with being the first ever buyer of bitcoin from the Enforcement Authority. The other theory is that the buyer wanted bitcoin of guaranteed legal origin – in that case what could be better than buying from the state?”

Read the original article in Swedish on Veckans Affärer. 

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