An auction of personal belongings from Silk Road founder Ross Ulbricht has brought in more than $1.8 million worth of Bitcoin as collectors vied for pieces of crypto history.
Ulbricht, who was pardoned by former President Donald Trump earlier this year, offered a range of items through Bitcoin-only marketplace Scarce City.
The collection included personal effects from before his 2013 arrest — such as a sleeping bag, backpack, and drum — as well as prison memorabilia like a lock, notebook, clothing, and several paintings created while incarcerated.
“I’ve left Arizona, the state where I was in prison. 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.”
Related: Is the pardoned Silk Road founder getting more involved in US politics?
Ulbricht’s final prison ID card fetches 11 BTC
One of the standout pieces, Ulbricht’s final prison ID card, fetched 11 BTC — over $1.1 million at current prices. “The guard tried to get me to stop smiling for the photo, but my joy comes from within,” Ulbricht commented. “So I smiled that day, even though I was in prison.”
A collaborative painting by Ulbricht and a fellow prisoner known as “Omega” also drew attention, securing a winning bid of 1.01 BTC. “It gave me the feeling that, if I could pass through it, something better would be on the other side,” Ulbricht said of the artwork.
In order to participate in the auction, Bidders had to deposit 1% of their bid as collateral. Last-minute bids also reset the countdown timer to ensure fair competition.
Final payments must be completed by June 2, with Bitcoin (BTC) preferred, though smaller PayPal payments were also accepted.
Millions in Dormant Bitcoin
In addition to raising $1.8 million from the auction and receiving significant community donations, Ulbricht may have access to millions in Bitcoin.
Coinbase director Conor Grogan recently highlighted that 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.
“I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the [US government] and have been untouched for 13+ years,” Grogan shared on X.
Blockchain analytics firm Arkham Intelligence confirmed Grogan’s assessment, tracing 14 Bitcoin addresses connected to Silk Road. One of these wallets alone holds more than $9 million in BTC.
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