Collectors of cryptocurrency memorabilia spent over $1.8 million in Bitcoin to acquire personal items belonging to Silk Road founder Ross Ulbricht in a recent auction. The event, hosted on Bitcoin-only platform Scarce City, featured artifacts spanning Ulbricht's pre-arrest life and prison years.

From Backpacks to Prison Art: A Crypto Time Capsule

The eclectic collection included mundane personal effects like a sleeping bag and drum alongside poignant prison creations. Ulbricht, pardoned by former President Trump in January 2024, framed the sale as symbolic closure. "I've left Arizona behind," he wrote on the auction page, referencing his former prison state. "These items deserve new homes where they'll be appreciated."

Remarkably, Ulbricht's final prison ID card commanded 【11 BTC】 (≈$1.1 million), with the founder noting his defiant smile in the photo. "Joy comes from within," he reflected about the mugshot taken during incarceration.

Art Behind Bars Finds New Audience

A collaborative painting created with fellow inmate "Omega" fetched 1.01 BTC, with Ulbricht describing the work as representing "passage to something better." The auction mechanism required bidders to deposit 1% collateral in BTC, with dynamic countdown extensions ensuring competitive fairness.

——"This isn't just memorabilia - it's physical blockchain history,"—— commented one collector who participated in the June 1 bidding. Final payments are due by June 2, primarily in Bitcoin though PayPal was permitted for smaller amounts.

The $47 Million Question: Ulbricht's Dormant BTC

Beyond auction proceeds, attention turned to approximately 【430 BTC】 (≈$47 million) potentially linked to Ulbricht in untouched wallets. Coinbase's Conor Grogan identified these funds through blockchain analysis, noting their 13-year dormancy despite government seizures. Arkham Intelligence confirmed at least 14 Silk Road-connected addresses, including one holding over $9 million.

The auction coincides with Ulbricht's growing public presence post-pardon, including appearances at political events. Whether the dormant Bitcoin will enter circulation remains uncertain, but this week's sales prove there's significant market appetite for tangible pieces of crypto's controversial origins.