US Government Sees 'Cryptocurrency Spring Fever' as Great Time to Auction Bitcoin
The GSA's next BTC auction could fetch more than $300K, generating even more excitement among cryptocurrency investors.
Mar 25, 2021 at 4:23 p.m. UTCUpdated Aug 19, 2021 at 8:20 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/VL65J7PSWZEFROOLZKIVVVSN2A.jpg)
According to an announcement posted Wednesday on the agency's website, the GSA is offering commission-free bidding on 6.79 BTC, divided into 10 lots. On Thursday, bitcoin was changing hands around $50,800, so the total amount set for auction works out to roughly $345,000. The auction will take place on the GSA Auctions website, starting on March 29 at 5 p.m. ET.
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
"Get ready for cryptocurrency spring fever on GSA Auctions," according to the press release. "It’s time to let your bitcoin portfolio bloom by placing a winning bid during GSA Auctions’ upcoming cryptocurrency sale."
STORY CONTINUES BELOW
The auction comes just weeks after the GSA conducted its first auction of bitcoin – a chunk of 0.7501 BTC that went for $53,104.
- While the federal government has been auctioning bitcoin since 2014, this will be the second time cryptocurrency is being sold using GSA Auctions.
- The previous auction took place on March 17 with 31 bidders. The winning bid was at $53,104 at 0.7501 BTC. That works out to $70,796 for a full bitcoin – more than 20% over the market price of about $59,000 on March 17. So it wasn't exactly a bargain. But the government apparently got a good price.
- “Our first steps wading into the cryptocurrency market quickly became one of our hottest auctions of 2021, but it was really just a test run for our latest bitcoin auction,” Thomas Meiron, regional commissioner for GSA’s Federal Acquisition Service, said in the press release.
- “We expect this auction will generate even more excitement among cryptocurrency investors,” Meiron said.
- According to the press release, GSA Auctions is a service of the U.S. General Service Administration that serves as the government's online clearinghouse for federally owned assets and equipment such as office furniture, vehicles, scientific equipment and collectibles.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)