Bitcoin Hits $31K as Ulbricht Auction Sparks Frenzy Ahead of Controversial Comeback
Bitcoin’s price surged to $31,000 as the crypto world braces for Ross Ulbricht’s first public appearance since prison—because nothing pumps a market like a dash of notoriety.
The Silk Road founder’s auction coincides with BTC’s rally, proving once again that crypto thrives on chaos. Wall Street analysts, meanwhile, are still trying to explain why ’decentralization’ keeps outperforming their spreadsheets.
Living History
Ross has been free for four months. Throughout that time he’s kept up the habit of documenting his experiences, which he shares on X.
Reading over his tweets gives an insightful look into the effects of incarceration. Ross tweeted in March: “For over a decade, I didn’t have water fixtures that I could turn off and on. In prison, everything is on buttons with timers.”
“After nearly two months in freedom, I still find myself staring at faucets and shower heads, waiting for them to turn off! So weird.”
Loading Tweet..Ross has also shared a string of “firsts” since his release: First birthday and Mother’s Day. First time touching grass with his bare feet. First cheeseburger. And soon, the first bitcoin conference.
“My big speech at Bitcoin 2025 is just a week away, but I am feeling surprisingly serene about it. I’m just looking forward to connecting with so many of you at once. It feels like I am coming home,” he tweeted last week.
Ross is also preparing for a period of travel, which “means downsizing and turning the page.”
He initially sought to auction off some of his personal belongings on eBay, but Ross struggled to verify his identity in order to actually sell anything. He’s since turned to Scarce City, the Bitcoin-powered collectibles marketplace, where he’s listed 13 artifacts from his life before and after his stint behind bars.
There’s his prison sneakers, sweatsuit and t-shirt, (the latter two come with a laundry bag), and three of his oil paintings created in prison, each one a collaboration with another inmate, Omega, who taught him techniques. Ross’s prison notebook is there, his prison locker lock and three ID cards, two featuring him with a full beard.
Capping the auction off are a trio of items with clear sentimental value for Ulbricht: a down sleeping bag, djembe drum and backpack, including a pair of Vibram FiveFingers shoes. Each item was used leading up to Ulbricht’s 2013 arrest in San Francisco.
The auctions run for another three days and have so far attracted bids totaling 0.2875 BTC ($31,500). Something tells me those figures will rise heading into Friday.
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