The United States General Services Administration, a legal entity that sells surplus assets held by the federal agencies from furniture to houses and tractors, revealed that it’ll auction Bitcoin [BTC, -1.21%] and Litecoin [LTC, +0.41%] with a combined market price of $377k USD.
The bidding within the latest auction starts on Friday at 5 p.m. ET and runs through Monday at 5 p.m., consistent with the official announcement. Eleven lots of crypto assets are on the block, including 8.93 bitcoin’ and 150.2 litecoins. Consistent with a document on the GSA’s auction website, the litecoins were seized from a taxpayer for nonpayment of income taxes.
The GSA raised $937,092 USD by selling 16.99 bitcoins in three auctions earlier this year.
“With the addition of a new cryptocurrency, this promises to be one among our most exciting auctions of the year,” Thomas Meiron, regional commissioner for GSA’s Federal Acquisition Service, outlined within the statement.
Investors must register to bid. The winning bidder must have a digital wallet to receive the property and must make a payment no later than 23rd June.