> Begin forwarded message: > > From: Mark > GSA Joins Cryptocurrency Craze With First-Ever Bitcoin Auction > The General Services Administration got its hands on a share of Bitcoin and > is putting it to auction later this month. > By Aaron Boyd, > Senior Editor, Nextgov > MARCH 8, 2021 02:40 PM ET > https://www.nextgov.com/emerging-tech/2021/03/gsa-joins-cryptocurrency-craze-first-ever-bitcoin-auction/172521/ > > <https://www.nextgov.com/emerging-tech/2021/03/gsa-joins-cryptocurrency-craze-first-ever-bitcoin-auction/172521/> > > The General Services Administration is preparing to auction off more than > three-quarters of a share of Bitcoin later this month—a first for the agency. > > While GSA is most widely known as the government’s central buyer and > landlord, the agency also runs an auction platform, GSA Auctions, where it > sells all matter of used and no-longer-needed federal property. Past > auctioned items have ranged from the mundane—like old computers and > monitors—to unique items like a Black Hawk helicopter, a lighthouse and even > a bag of lottery tickets. > > But offering a share in a cryptocurrency is new for GSA. > > From March 15-17, GSA will be accepting bids on a 0.7501 share of a single > Bitcoin, “valued at more than $38,000 as of March 5, 2021,” according to the > agency. On Monday, that share of a Bitcoin was worth $38,112.58. > > “This auction marks the first time cryptocurrency will be made available for > public sale through GSA Auctions, and it is the only piece of cryptocurrency > to have fallen under the purview of the U.S. General Services > Administration,” a GSA spokesperson told Nextgov. > > While the agency declined to say where the Bitcoin share came from, citing > “privacy concerns,” the spokesperson noted GSA Auction items “come from a > wide range of sources, including surplus government equipment, seized > property and gifts from foreign governments.” > > The auction begins at 5 p.m. March 15 and ends 48 hours later at 5 p.m. March > 17. > > Prospective bidders must register on the GSA Auction site prior to bidding. > Payment on the winning bid will be due by March 19. > > “Whether it’s a car, or a piece of jewelry, or now even cryptocurrency, you > never know what kind of treasures you’ll find on GSA Auctions,” acting > Southeast Sunbelt Region Administrator Kevin Kerns said in the announcement. > “A special thanks to GSA’s Southeast-Great Lakes Personal Property Management > team for making our very first cryptocurrency auction a reality.” > > The auction is being framed as an opportunity to start investing in > cryptocurrencies. However, Bitcoin, like other cryptocurrencies, is not a > traditional investment commodity. The goal is similar to the stock market—buy > low and sell high—but the cryptocurrency markets have been highly volatile > over the years. >
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