Satoshi Dice sold for $11.5 Million

Bitcoins site Satoshi Dice has been sold in the amount of $11.5 million. The site has been purchased by a buyer who chooses to remain anonymous at this time. The buyer paid an amount equal to 125,316 bitcoins.

The deal was announced to shareholders at some point this week. Satoshi generates revenues that surpass $50,000 each month and to date has seen in excess of 5.31 million wagers placed at the site since it opened in 2012.

Erik Voorhees, who founded Satoshi Dice stated “It was expected that they were some owners who wished to hold on to things for a longer period of time and will be surprised by the buyout announcement. It is our hope that the amount of their compensation will be appreciated. The amount they will receive is greater than what their contracts allow for and greater than three times what private owners will be paid. I believe this was the right thing to do at this time”

This deal shows the potential that bitcoin sites offer and that they can and do generate solid revenue streams. The Satoshi Dice site offers a unique game whereby players place wagers on a number that will be less than that showing on the roll of a dice.