GSA Auctions has announced it will open up bidding on 11 lots of Bitcoin in an upcoming auction. The 9.45 BTC are estimated at around $520,000 USD.
The agency serves as a clearing house for surplus federal property but it’s unclear how it came to possess the cryptocurrency.
Although uncommon, it’s not the first time GSA has sold BTC. It previously sold about 7.5 BTC in two separate auctions totaling around $450,000.
“Cryptocurrency is certainly some of the most unique items to ever come up for public sale on our GSA Auctions platform, but the excitement from our bidders is undeniable,” said Thomas Meiron, Regional Commissioner with GSA’s Federal Acquisition Service. “It goes without saying that you never know what you’re going to find on GSA Auctions.”
The auction opens Friday, April 23 and closes Monday April 26, although it could remain open for last minute bids. Winning bids would have to be paid by wire and the winner needs a digital wallet to receive the intangible asset.