US authorities put up $ 300,000 worth of bitcoins at auction

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The General Services Administration (GSA), an independent agency part of the US government, has auctioned 4.92 BTC online.

US government agency for this week
conducts online auction. Several lots offer 4.92 BTC for a total of about $ 290,000. The auction is divided into five lots, and the auction ends at 02:00 Moscow time on October 29th.

The lot with the minimum price is 0.44 bitcoin with an initial price of slightly less than $ 26,000. The largest lot of 1.5 bitcoin costs about $ 88,400. Three more lots: 0.75 bitcoin – $ 44,500, 1 bitcoin – $ 57,000, 1.25 bitcoin – $ 70,505 All prices are below market prices, but they may rise during the auction.

This isn’t the first time the U.S. government has auctioned bitcoins, with the GSA organizing bitcoin auctions in March and April 2021. At such auctions, it is often possible to purchase cryptocurrencies below the market price with great profit. In March, one lot of 0.75 bitcoin was bought for $ 53,104, which is 21% lower than the bitcoin price at that time. In April, 11 lots in the amount of 9.45 BTC were sold at a significant discount to the market for $ 487,000. If these bitcoins were sold on the exchange, at that time the US authorities would have raised about $ 520,000 for them. Most of the bitcoins that are put up for such auctions by the authorities United States, seized by US law enforcement during the arrest of criminals or searches.

It is not only the US government that sells bitcoins confiscated from criminals. Yesterday the Ministry of Justice of North Rhine-Westphalia held the first auction for the sale of confiscated bitcoins, with prices also billed below market prices. The French government auctioned 611 BTC in March, which was confiscated from hackers. The auction house Kapandji Morhange conducted two sales of 478 lots, worth 0.11 to 20 BTC. The Belgian federal government put up $ 125,000 worth of confiscated bitcoins in 2020 through an auction organized by the Irish auction house Wilsons Auctions.

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