US Government to Auction Off Seized Litecoin Alongside Bitcoin

The U.S. General Services Administration, an company that sells surplus property held by the federal authorities from workplace furnishings to homes and tractors, stated it is going to auction off bitcoin and litecoin with a mixed market worth of $377,000.

The bidding within the newest public sale begins Friday at 5 p.m. ET and runs via Monday at 5 p.m., in accordance to a press release. Eleven plenty of cryptocurrency are on the block, together with 8.93 bitcoins and 150.2 litecoins. According to a document on the GSA’s auction website, the litecoins have been seized from a taxpayer for nonpayment of inner income taxes.  

The GSA raised $937,092 by selling 16.99 bitcoins in three auctions earlier this 12 months.

Related: Market Wrap: Bitcoin Drops Ahead of Looming ‘Death Cross’

“With the addition of a new type of cryptocurrency, this promises to be one of our most exciting auctions of the year,” Thomas Meiron, regional commissioner for GSA’s Federal Acquisition Service, stated within the assertion.

Investors should register to bid. The successful bidder will need to have a digital pockets to obtain the property and should make a cost no later than June 23. 

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