[ad_1]
The US government sells bitcoin and litecoin worth $ 377,000 through the General Services Administration (GSA). The auction closes at 5 p.m. on Monday, with the possibility of an extended closing time. The government auction house is selling the digital assets in 11 lots and so far the lots have been the subject of active auctions.
GSA auction house has nearly ten Bitcoin and 150 Litecoin for sale, auction ends today
From June 18 through Monday June 21, the General Services Administration, also known as the GSA, is auctioning two types of crypto assets. GSA bidders can try to buy 11 crypto lots which hold around 8.93 BTC and 150.2 LTC.
The US government estimates the value to be in the order of $ 377,000 for all of the BTC and LTC lots. The GSA announcement notes that the entity has sold crypto assets on behalf of the U.S. government since early 2021.
To date, the GSA has auctioned crypto assets three times and sold 16.99 BTC in total. The three previous GSA auctions have stood at $ 937,092 for bitcoin assets sold on the platform. The GSA ad also tries to grab the reader by saying, “Become a part of the growing cryptocurrency community by placing a winning bid in the upcoming GSA Auctions cryptocurrency auction. “
“Experienced investors recognize a good opportunity when they see it, which is why our auctions have generated so much enthusiasm within the crypto community,” said Thomas Meiron, regional commissioner of the Federal Acquisition Service of the GSA in a statement. “With the addition of a new type of cryptocurrency, this promises to be one of our most exciting auctions of the year.”
The new type of digital asset that Meiron refers to is Litecoin (LTC), as previous auctions only saw the sale of BTC. The GSA was established in 1949 and is a solution for government-owned surpluses, confiscated property and federal personal property that they no longer need.
The independent agency of the US government allows the general public, businesses and other government agencies to bid on items on an exclusive basis. Local and international GSA auction buyers are required to purchase electronically.
The electronic purchase agreement only is due upon the President’s declaration of national emergency on March 23, 2020. Since then, the GSA no longer accepts payments in cash, money orders, cashier’s checks and official or personal checks.
The description of crypto lots sold explains that when a bidder wins, they must accept responsibility for paying the mining network fees. Auctions have been active so far and dozens of bids have been made on GSA’s current pool of digital assets.
What do you think of the GSA cryptocurrency auction? Let us know what you think of this topic in the comments section below.
Tags in this story Auctions, Bitcoin, BTC, Crypto, Cryptocurrency, Digital Asset Auctions, Lost Crypto Accounts, General Service Administration, GSA, GSA Auctions, litecoin, LTC, Regional Commissioner, foreclosures, Thomas Meiron, US Government
Image credits: Shutterstock, Pixabay, Wiki Commons, GSA Auctions,
Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.
[ad_2]
picture credit