United States

United States Government Wants to Auction Bitcoin

Reports have emerged that authorities in the United States are set to “offer the general public the opportunity to bid electronically on a wide array of assets no longer needed by the federal government ranging from office equipment and furniture to more select products like scientific equipment, heavy machinery, airplanes, vessels, and vehicles.” This announcement was made via the General Services Administration (GSA) official website.

According to the announcement, the assets that would be auctioned include one lot of assorted tile, one lot of lead from cartridge casings, some steel plates and a hefty chunk of Bitcoin that would go live on the 15th if this month. The opening bid is expected to be around the sum of $25,000.

In recent times, the price of the crypto asset has been moving sideways and it just recently crossed the $50k mark. However, despite the dip in the price of the virtual coin, institutional investors have kept pouring into the space. Notably, institutions outside of the United States like Hong Kong based Meitu and Norway-based Aker ASA have recently made forays into the crypto space too.

Interestingly, some top executives of financial regulators in the United States are renowned for their pro-crypto view. An example is Garry Gensler who recently had his confirmation hearing before the Senate for the position of the chairman of the Securities and Exchange Commission.

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