The U.S government via the General Services Administration (GSA) is to sell 6.79 Bitcoin worth about $353,000 at current rate in the stock market. This upcoming auction will in ten lots and will start from March 29 to March 31.
Meanwhile, the agency’s first-ever cryptocurrency auction was earlier closed on March 17, with over 0.7501 Bitcoin being sold at almost $9,000 premium. In addition the auction featured 31 bidders and attracted over 200 entries.
However, the report circular advised interested bidders to apply as soon as possible so as to preserve a slot for themselves;
This upcoming auction will mark the second time cryptocurrency was sold by the U.S. government using GSA Auctions. A .7501 fractional share of a bitcoin sold recently for $53,104 after receiving 204 bids from 31 bidders.
This auction marks the second time cryptocurrency will be sold by the U.S. government using GSA Auctions. A .7501 fractional share of a bitcoin sold recently for $53,104 after receiving 204 bids from 31 bidders.
In a statement issued by the Regional Commissioner for GSA’s Federal Acquisition Service, Thomas Meiron he said “Our first steps wading into the cryptocurrency market soon became one of the hottest auctions of 2021, but it was merely a test run for our latest bitcoin auction,”.
“However, with 10 lots up for bid, we expect this auction will generate even more excitement among cryptocurrency investors.” – he added.
he U.S Federal government, currently has about 70,124 bitcoin worth $3.7 billion, as its crypto holdings are held in various departments of the United States Government primarily acquired through asset forfeitures in legal cases.
In addition, thousands of BTCs worth $1 billion were seized many months ago by the United States enforcement agencies in what the Justice Department disclosed was the largest seizure of cryptocurrency in the history of the agency.
The U.S. enforcement agencies were able to initiate such a seizure through a unit within the Internal Revenue Service that specializes in tracking virtual currency transactions prevalent when using cryptos.
As it stands, the Internal Revenue Service agents were able to identify 54 new bitcoin transactions executed on the shady platform as well.