US government to sell 0.7501 bitcoin

General Services Administration

The government jumps in on the fun! The GSA got its hands on a share of Bitcoin, and is putting it to auction later this month. Some 0.7501 with of bitcoin, worth $38,000 at current prices.

This is the first for the agency, the General Services Administration.

It is most widely known as the central buyer and landlord of the government, and also runs an online auction platform called GSA Auctions where it sells all kinds of used federal properties and items no longer needed by the government.

Past auction items have ranged from everything from old computers and monitors to unique items like a Black Hawk helicopter, a lighthouse, even a bag of lottery tickets.

Offering a cryptocurrency is a new for the GSA.

GSA Logo

The lot 4KQSCI21105001 goes up for auction in a week, to be held from March 15 to 17.

And though the agency does not say where its surplus digital currency came from, it is a far cry from the 30,000 bitcoins the US Marshals Service auctioned off in 2014 after they were seized from the Silk Road marketplace.

Those bitcoins were estimated to be worth about $19 million back then, though the winning bid by venture capitalist Tim Draper was not disclosed. Those coins would be worth about $1.5 billion today, as the price of the digital asset has skyrocketed to almost $51,000.

This auction, however, is an indication of how Bitcoin is becoming more and more main mainstream, even among government organizations.

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