GSA Auctions Another Series of Crypto, Valued at $268K
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The General Services Administration is auctioning off several lots of cryptocurrencies as the federal government looks to wade into the volatile asset class.
The General Services Administration announced its latest series of cryptocurrency auctions, with five lots of Bitcoin available for purchase.
Valued at over $268,000, the lot is open to accept bids from Tuesday, June 7 to a close on Thursday, June 9 at 5 pm CT.
Auction information can be found at GSAAuctions.gov.
GSA has been auctioning cryptocurrency lots since early 2021, and has reported previously selling over 32 bitcoin and 150 litecoin through six auctions. The revenue generated from these sales totaled roughly $1.5 million.
Previously, the GSA auctioned off another five lots of cryptocurrency in October 2021 for a similar value.
This comes as the federal government is increasingly focused one establishing regulations for the cryptocurrency and digital asset market.
As this latest auction continues, the House Homeland Security committee is currently hearing industry leaders opine on the relationship between cryptocurrency and terrorist activities.
“We're excited to be a leader in this space,” Thomas Meiron, the Federal Acquisition Services’s regional commissioner said. “GSA is pleased to offer these lots for public auction."
The GSA receives its auction items—such as cryptocurrency—from “a wide range of sources,” including gifts from foreign governments, forfeited property, donations and surplus government assets.