SecondMarket unsuccessful in winning bitcoins in latest government auction

In the third bitcoin auction held by the U.S. government, SecondMarket Inc., a New York based company, was unable to win any block of the total 50,000 bitcoins, which was seized by the authorities when the Sill Road online market place shut down in 2013.

Brendan O'Connor, managing director at SecondMarket, wrote in an email to Bloomberg on Friday that the company bid for every block but was unable to win any of them. SecondMarket and Silicon Valley investor Tim Draper were able to secure 80,000 bitcoins in the two preceding auctions.

The U.S. Marshals Service which conducted the auction said that around 14 participants submitted 34 bids for the bitcoins, however, the names of the winners as well as losers was not disclosed.