Ross Ulbricht’s Silk Road Auction Nets $1.8M in Bitcoin

Auction of Silk Road Founder Ross Ulbricht’s Items Nets Over $1.8M

An auction of Silk Road founder Ross Ulbricht’s personal belongings has brought in over $1.8 million worth of Bitcoin, drawing major attention from collectors of crypto history.

Ulbricht, who was pardoned by former President Donald Trump earlier this year, sold the items through Bitcoin-only marketplace Scarce City. The collection included personal items 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 made while incarcerated.

“I’ve left Arizona, the state where I was in prison. It’s time to travel,” Ulbricht wrote on the auction page. “I don’t need the reminders and I’m sure some of you will love to have them.”

One of the most sought-after pieces was Ulbricht’s final prison ID card, which sold for 11 BTC — over $1.1 million at current prices. Ulbricht commented, “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.”

Source: Scarce City

A collaborative painting by Ulbricht and fellow prisoner “Omega” also attracted attention, winning a bid of 1.01 BTC. Ulbricht described the piece as giving him the feeling that “something better would be on the other side.”

To join the auction, bidders had to deposit 1% of their bid as collateral. Last-minute bids triggered countdown resets to keep the process fair. Final payments are due by June 2, with Bitcoinpreferred, though small PayPal payments were also allowed.

Dormant BitcoinHoldings

Beyond the auction, Ulbricht may still have access to a fortune in dormant Bitcoin. Coinbase director Conor Grogan recently revealed that approximately 430 BTC — worth around $47 million — remain in wallets likely linked to Ulbricht. These addresses 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 posted on X.

Blockchain analytics firm Arkham Intelligence confirmed this, identifying 14 addresses tied to Silk Road, with one wallet alone holding more than $9 million in BTC.