{"id":8555,"date":"2021-06-21T14:54:17","date_gmt":"2021-06-21T14:54:17","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/the-us-government-is-auctioning-377k-worth-of-bitcoin-and-litecoin\/"},"modified":"2021-06-21T14:54:17","modified_gmt":"2021-06-21T14:54:17","slug":"the-us-government-is-auctioning-377k-worth-of-bitcoin-and-litecoin","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/the-us-government-is-auctioning-377k-worth-of-bitcoin-and-litecoin\/","title":{"rendered":"The US Government Is Auctioning $377K Worth of Bitcoin and Litecoin"},"content":{"rendered":"

The U.S. government is selling bitcoin and litecoin worth $377K via 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 seen active bidding.<\/strong><\/p>\n

The GSA Auction House Has Close to Ten Bitcoin and 150 Litecoin for Sale, Auction Ends Today<\/h2>\n

From June 18 to Monday, June 21, the General Services Administration, otherwise known as the GSA, is auctioning<\/a> two types of crypto assets. GSA auction bidders can try to buy 11 lots of crypto that hold approximately 8.93 BTC<\/a> and 150.2 LTC<\/a>.<\/p>\n

The U.S. government estimates the value to be in the ballpark of $377,000 for the aggregate BTC<\/a> and LTC<\/a> lots. The GSA announcement notes that the entity has sold crypto assets on behalf of the U.S. government since the beginning of 2021.<\/p>\n<\/p>\n

To date, the GSA has auctioned crypto assets three times and sold 16.99 BTC<\/a> in total. The three previous GSA auctions settled at $937,092 for the bitcoin assets sold on the platform. The GSA advertisement also tries to entice the reader by saying: \u201cBecome a part of the growing cryptocurrency community by placing a winning bid during GSA Auctions\u2019 next cryptocurrency sale.\u201d<\/p>\n

\u201cExperienced investors recognize a good opportunity when they see it, which is why our auctions have generated so much enthusiasm among the crypto community,\u201d Thomas Meiron, Regional Commissioner for GSA\u2019s Federal Acquisition Service said<\/a> in a statement. \u201cWith the addition of a new type of cryptocurrency, this promises to be one of our most exciting auctions of the year.\u201d<\/p>\n<\/p>\n

The new type of digital asset Meiron refers to is litecoin (LTC<\/a>), as prior auctions only saw the sale of BTC<\/a>. The GSA was created in 1949 and is a solution for government-owned surplus, forfeited goods, and federal personal property they no longer require.<\/p>\n

The independent agency of the U.S. government allows the general public, businesses, and other government agencies to bid on items in an exclusive fashion. Local and international GSA auction buyers are mandated to purchase electronically.<\/p>\n

<\/p>\n

The electronic only-purchasing arrangement is due to the President\u2019s declaration of a national emergency on March 23, 2020. Since then, the GSA no longer accepts payments made by cash, money order, cashier\u2019s check, and official or personal checks.<\/p>\n

The description of the crypto lots being sold explains that when a bidder wins they must accept the responsibility of paying the mining network fee. Bidding has been active so far and dozens of offers have been made on the GSA\u2019s current stash of digital assets.<\/p>\n

What do you think about the GSA cryptocurrency auction? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nNews, Auction, Bitcoin, BTC, Crypto, Cryptocurrency, digital asset auctions, Forfeited crypto accounts, General Services Administration, GSA, GSA Auctions, litecoin, LTC, Regional Commissioner, seizures, Thomas Meiron, US government<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. government is selling bitcoin and litecoin worth $377K via 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 seen active bidding. The GSA…<\/p>\n","protected":false},"author":0,"featured_media":8556,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8555"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8555"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8556"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}