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GSA to Hold Auction for Excess Cryptocurrency Assets

1 min read

The General Services Administration (GSA) will hold its second-ever cryptocurrency sale on March 29th as part of the federal government’s clearinghouse operations for excess bitcoin assets. GSA Auctions will open commission-free bidding activities at 4 p.m. CT, the agency said Wednesday.

GSA will auction off 6.79 bitcoin, which is valued at over $383,000 and will be segmented into 10 lots. Bidding will take place within 48 hours and close on March 31 at 4 p.m. CT.

Thomas Meiron, a regional commissioner at GSA’s Federal Acquisition Service, said the auction serves as the agency's “first steps wading into the cryptocurrency market” and that he expects the event to generate excitement among investors in cryptocurrency.

Winning bidders must have a digital wallet and are required to make payments through wire transfer by April 2nd. GSA Auctions also handles bidding activities for federally-owned items such as vehicles, office furniture, collectibles and scientific equipment.

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