These Bitcoin (BTC) Selling States – The United States is auctioning 4.94 BTC. This practice is becoming commonplace with the governments of different countries selling the bitcoins seized from the criminal sector.
About $ 300,000 in Bitcoin auctioned in the United States
The US General Service Administration – or the General service administration (GSA) – announced on October 25, 2021, the auction of 4.94 BTC divided into 5 lots of 1.5 BTC, 1.25 BTC, 1, 0.75 BTC, and 0.44 BTC. The sale began on October 26, 2021, and should end today.
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The GSA has already conducted other cryptocurrency auctions since the start of 2021. She sold 8.925BTC, 150.2 Litecoins (LTC) and 0.000229 Bitcoin Cash (BCH), during summer. Earlier, in April 2021, the government agency sold 9.45 BTC worth $ 520,000 during the era for $ 487,000, i.e. a price more than 6% lower than the market price. Bitcoin is trading at $ 60,533 at the time of writing.
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Bitcoin and seized altcoins fill state coffers
Besides the United States, the German government also auctioned 215 seized Bitcoins that are the result of criminal activity. Most of the Bitcoins sold have been confiscated in the Darknet markets.
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About 1,200 km away, Romania also organizes sale of cryptocurrencies seized in connection with financial crime investigations. The Romanian National Agency for the Management of Seized Assets announced in early October 2021, the auction of 0.97 Ether (ETH) and 0.6 BTC.
France also auctioned 611 BTC following a judicial seizure in April 2021. The buyers had acquired the Bitcoins at a price more expensive than the market price.
This GSA-led auction comes amid a resumption of Bitcoin’s bullish rally, which recently hit a new all-time high around $ 67,000.
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