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U.S. government to auction 6.79 Bitcoin, second crypto sales this month

John Williams

Mar 25, 2021 — 1 min read

This article is for informational purposes only and does not constitute investment advice. Always do your own research (DYOR) before making any financial decisions.

Two weeks after auctioning 0.7501 Bitcoin, the U.S. General Services Administration (GSA) is back with another public sale. This time around, the government agency plans on disposing 6.79 Bitcoin worth about $384,000 at current market prices.

The upcoming auction has been divided into ten lots and will run from March 29 to March 31 (5 pm Eastern time).

The agency’s first-ever crypto auction closed on March 17, with 0.7501 Bitcoin being sold at an almost $9,000 premium. The auction featured 31 bidders and attracted a total of 204 entries.

Apparently, GSA was inspired by the outcome of the auction and is delving in even deeper with a second sale. The agency wrote:

Just in time for spring—it’s time to let your bitcoin portfolio bloom by placing a winning bid during GSA Auctions’ upcoming cryptocurrency sale… 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

The source of the Bitcoin remains unknown. The GSA declined to mention the source for privacy reasons.

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