The US GSA to auction $500K worth of Bitcoin this Friday
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The US GSA to auction $500K worth of Bitcoin this Friday

Bethel Brill
Bethel Brill

The United States GSA (General Service Administration) is on the headlines this week after announcing it will auction about $500,000 worth of Bitcoin on Friday, April 23, 2021.

GSA is the United States agency tasked with the responsibility of managing properties and buildings. Through what it refers to as the GSA Auctions, this service administration sells off pieces of equipment, furniture, properties, and computers from the Federal Government.

Surprisingly, this is the third time the GSA is auctioning Bitcoins after its first and second successful sales last month.

The auction slated for April 23, 2021, will run for four days and will see the service administration sell off 9.45 BTC worth a little over $500,000 based on current market value. To participate in this auction, prospective bidders are required to register on the GSA Auctions platform as well as have their digital wallets ready to receive BTC, in the event they win.

Citing privacy concerns, the GSA has failed to disclose how it came about the Bitcoins to be auctioned.

Speaking to reporters, Thomas Meiron, the Regional Commissioner of the GSA's Federal Acquisition Service revealed that Bitcoin is one of the unique items auctioned on the platform. Albeit unique, Thomas cites the undeniable excitement in the tone of bidders as one of the reasons for these recent BTC auctions.