The United States General Services Administration (GSA) held a Bitcoin auction worth more than $500,000. The auction, which took place from the 23rd to the 26th of April, was the third held by GSA’s auction arm this year.
GSA oversees and funds the basic operations of federal departments. It also holds auctions to dispose of management automobiles, equipment, and other properties. On March 15, this year, it held its first BTC auction, at which 0.7501 BTC was exchanged for $9,000 more than the selling average. On March 29, another auction was held in which 6.79 BTC were sold for nearly $400,000.
The public is naturally interested in learning how the agency became involved, but it has not disclosed the origins of the cryptocurrency. In a press release, Regional Commissioner for GSA’s Federal Acquisition Service Thomas Meiron said,
“Cryptocurrency is some of the most interesting things to ever come up for public sale on our GSA Auctions website, but the interest from our bidders is undeniable.”
The US government has taken a strong stance against Bitcoin and other cryptocurrencies. While it has not outright banned digital properties like other countries have, it has still not entirely welcomed the industry. There is no consistent regulatory framework for the cryptocurrency space, which has hampered the growth of start-ups in the nation.
There is no consistent regulatory framework for the cryptocurrency space, which has hampered the growth of start-ups in the nation.
May the fact that the land management arm is already active in Bitcoin auctions be a sign that the government is beginning to recognize Bitcoin as an investment asset? The department is unable to share that information with the press, but only time will tell.
Bidders are required to register on the website and have a BTC wallet to receive the BTC if they win the auction.