US Government Set To Auction Bitcoin Worth $353,000
-The United States Government is set to auction 6.79 Bitcoin worth $353,000
-The auction is expected to happen between March 29 to March 31 via the General Service Administration (GSA)
-This is the GSA’s second auction after the agency completed the sale of 0.7501 BTC on March 17
Less than two weeks after completing the 0.7501 Bitcoin at $53,104, the US government is set to auction 6.97 BTC via the General Services Administration (GSA).
The upcoming auction is happening in 10 lots from March 29 to March 31 and interested bidders have been advised to bid early.
This is the US government’s second crypto sale via GSA Auctions, with the first or featuring 204 bids from 31 bidders.
US Federal government has more than 70,124 BTC, which is worth about $3.7 billion. The majority of these assets were acquired through forfeiture in legal cases.
The United States law enforcement seized $1 billion worth of BTC many months ago in the country’s largest cryptocurrency seizure.
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The crypto seizure was made through an Internal Revenue Service unit that specializes in the tracking of cryptocurrency.
At the time of this report, Bitcoin is trading at $54,089, with a market cap of $1.01 Trillion.
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