US authorities sold 0.7501 BTC at auction above market price

The United States General Services Administration (GSA) sold at auction 0.7501 BTC for $53,104. Information confirms this on the agency’s site.

Information on lot 4KQSCI21105001. Data: GSA.

The starting price of the lot was $25,000. Bids began on March 15 and ran for 48 hours in Atlanta, Georgia.

There were 31 bids placed during the auction. The bitcoins fetched roughly $9,000 above the market price.

Authorities did not specify where they obtained the cryptocurrency or why the coins were offered for auction through the GSA.

The GSA is an independent agency within the U.S. government. Its remit includes assisting in the management and support of the federal government’s core functions, and handling administrative tasks.

Previously, the US Marshals Service (USMS) put bitcoins up for auction. In 2014, officials sold 30,000 BTC seized from the Silk Road darknet marketplace. All lots were purchased by venture capitalist Tim Draper.

In February 2020, the USMS put 4,040.54 BTC up for auction. The coins were purchased by two winners.

Earlier, the agency managed the seized cryptocurrency itself, but in the summer of 2020 began seeking a contractor to store and sell the confiscated bitcoins.

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