U.S. Government Is Auctioning Off 0.7501 Bitcoin


The US government is auctioning off 0.7501 BTC, currently worth about $40,500 at the rate of 54,000 per Bitcoin.

Currently, the highest bid on it is $25,000.

The U.S. General Services Administration typically auctions the surplus federal equipment to the general public. Its latest lot of 4KQSCI21105001 involves Ford, Dodge, and Chevy sedans, the inoperable Caterpillar tractor, and the 12,000-gallon storage container beside 0.7501 BTC.

It hasn’t been divulged where this surplus crypto-asset came from.

This isn’t the first time the government is auctioning Bitcoin. Back in 2014, the US Marshals Service auctioned off 30,000 BTC that were part of the 144,000 BTC seized from the Silk Road marketplace in an online sealed-bid that drew over 40 bidders.

Venture capitalist Tim Draper was the sole winner of an auction. At the time, the 29,655 BTC had an estimated worth of $18 million, though the winning bid wasn’t disclosed, which is now worth $1.6 billion.

The latest GSA auction is scheduled to be held from March 15 to 17.

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