Charlie Shrem, an early Bitcoin adopter and co-founder of the Bitcoin Foundation, is set to auction off a collection of items, including the highly coveted first issue of Bitcoin Magazine. The auction marks the 10-year anniversary of Shrem's early release from federal prison. The items being auctioned are connected to his past, including his involvement with the Silk Road case.
The auction will be held on the Scarce City marketplace. Among the items up for sale are a journal Shrem kept during his time in prison from 2014 to 2015, a BTC ring, and the first issue of Bitcoin Magazine from May 2012. Shrem described the items as more than just personal possessions, stating they represent "the scars and the sparks of the early Bitcoin days and its first fire".
Shrem's history in the Bitcoin world is marked by both early success and legal troubles. In January 2014, he was arrested for allegedly "engaging in a scheme to sell over $1 million in Bitcoins" to users of the Silk Road darknet marketplace. Following his guilty plea, Shrem was sentenced to two years in prison but was released early in September 2015. The Silk Road, known for its illicit activities, was shut down by U.S. authorities in October 2013, leading to the arrest of its creator, Ross Ulbricht.
Issue #1 of Bitcoin Magazine is a sought-after piece of cryptocurrency history. The magazine's first edition included articles such as "Commerce Races to the Internet; Is Security Keeping Up?", "Bitcoin: Prehistory, Predecessors and Genesis," and "A Bit of Instant: Interview With Charlie Shrem". Remaining copies of the original print run are available for purchase for $2,100.
Ulbricht, who was sentenced to life in prison for his role in the Silk Road, also used Scarce City to auction off items related to his arrest and imprisonment, which fetched $1.8 million. Ulbricht was not pardoned by US President Donald Trump in January.
The auction of these items provides a glimpse into the early days of Bitcoin and the individuals who played a significant role in its development, and some consider the items as collector's pieces.
