Ross Ulbricht—the convicted founder of Silk Road—has raised more than $1.8 million in Bitcoin through the auction of his personal belongings. Hosted on the Bitcoin-only platform Scarce City, the event drew intense interest from collectors eager to own a piece of crypto history.
The items reflected Ulbricht’s life both before and during his incarceration. From the sleeping bag and backpack he carried before his 2013 arrest to prison artifacts like notebooks, clothes, and artwork, the collection offered rare insight into the man behind one of crypto’s most infamous legacies.
The most coveted item was Ulbricht’s final prison ID card, representing his transition out of incarceration following a presidential pardon earlier this year. In a note posted on the auction page, Ulbricht wrote:
“I’ve left Arizona, the state where I was in prison. It’s time to travel. That means downsizing and turning the page. I don’t need the reminders—and I’m sure some of you will love to have them.”
The high-value outcome of the auction not only reflects Ulbricht’s lasting influence in the crypto world but also underscores the community’s fascination with Bitcoin’s earliest, and most controversial, chapters.
Ulbricht’s Prison ID Card Sells for $1.1M in Bitcoin
Ross Ulbricht’s final prison ID card emerged as the star of the Bitcoin-only auction, selling for 11 BTC—valued at over $1.1 million. Issued just before his release, the ID has become a symbolic keepsake for Bitcoiners who have followed Ulbricht’s saga since the Silk Road era.
Reflecting on the moment the photo was taken, Ulbricht shared:
“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.”
Another standout piece was a collaborative painting created by Ulbricht and a fellow inmate known as “Omega,” which sold for 1.01 BTC. Ulbricht described it as a personal escape during incarceration:
“It gave me the feeling that, if I could pass through it, something better would be on the other side.”
The auction mechanics were designed to ensure fairness, requiring a 1% BTC collateral deposit and implementing a time reset for last-minute bids. Payments are due by June 2, with Bitcoin preferred—although small PayPal payments were accepted for minor items.
Ulbricht May Still Control $47M in Dormant Bitcoin
Beyond the auction’s proceeds, Ulbricht may still have access to a dormant Bitcoin fortune valued at nearly $47 million. Coinbase director Conor Grogan recently spotlighted these long-idle funds, identifying approximately 430 BTC across dozens of addresses believed to be linked to Ulbricht.
Crucially, these funds were never seized by U.S. authorities during his arrest or trial.
“I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the government and have been untouched for 13+ years,” Grogan posted on X.
Blockchain analytics firm Arkham later corroborated the findings, linking 14 wallets to Silk Road-era activity. One of the addresses alone reportedly holds over $9 million in BTC at current prices.
If Ulbricht retains access to these coins, it could dramatically alter both the financial and legal dimensions of his ongoing legacy within crypto history.
Quick Facts
- Ross Ulbricht raised over $1.8 million in Bitcoin by auctioning personal belongings on Scarce City.
- His prison ID card sold for 11 BTC (~$1.1M), making it the top-selling item.
- Other auctioned items included clothing, notebooks, and collaborative prison artwork.
- Analysts believe Ulbricht may still control over 430 BTC ($47M) in dormant wallets.
- None of the identified wallets were seized during his arrest or trial.
