US government auctions $377,000 worth of Bitcoin and Litecoin

The US government sells $377k worth of bitcoin and litecoins through the General Services Administration (GSA). The auction closes at 5pm on Monday with the possibility of an extended closing time. The state auction house sells digital assets in 11 lots and lots have been actively bid so far. There are about ten Bitcoins and 150 Litecoins for sale at the GSA Auction House, the auction ends today From Monday, June 18th to Monday, June 21st, the General Services Administration, also known as the GSA, is auctioning two types of crypto assets. GSA auction bidders can try to buy 11 lots of crypto containing around 8.93 BTC and 150.2 LTC. The US government estimates the margin value of $377,000 for total BTC and LTC lots. GSA's announcement states that the organization has been selling crypto assets on behalf of the US government since early 2021. To date, GSA has auctioned crypto assets three times, selling a total of 16.99 BTC. The previous three GSA auctions came in at $937,092 for bitcoin assets sold on the platform. The GSA ad also tries to entice the reader by saying, “Become part of the growing cryptocurrency community by placing a winning bid during the next GSA Auctions cryptocurrency sale.” “Experienced investors recognize a great opportunity when they see it, which is why our auctions have generated such enthusiasm among the crypto community,” Thomas Meiron, GSA's Federal Procurement Service regional commissioner, said in a statement. Said. “With the addition of a new kind of cryptocurrency, this promises to be one of the most exciting auctions of the year.” The new type of digital asset Meiron is talking about is litecoin (LTC), as it has only seen BTC selling in previous auctions. Founded in 1949, the GSA is a solution to government surpluses, lost property, and federal personal property they no longer need. The independent agency of the United States government empowers the general public, businesses, and others.

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