The US government-backed GSA Auctions is currently running an online bitcoin auction called Fall for Cryptocurrency. At the event, the US federal government auctioned 4.94 bitcoin tokens at the current bitcoin trading price of 63,925 (approximately 48 lakh) per token. GSA Auctions is a United States General Services Administration (GSA) service responsible for clearing excess federal assets. The online auction starts on Tuesday, September 26 and ends on Thursday, October 28.
GSA Auctions posted event details on regionally-focused Twitter.
GSA usually sells Bitcoin tokens at a discount. For example, in April the GSA Auction sold about 10 Bitcoin tokens worth $520,000 (about 4 rupees) at that time, down six percent from 487,000 yen (approx.
However, news of recent events has raised privacy concerns among US Bitcoin fans, some of whom have been voiced on Twitter.
The Bitcoin Magazine report also states that buyers will buy and sell their personal information from the US government at a small discount.
Even so, in the growing craze for cryptocurrencies, these bitcoin tokens are being auctioned off in the US and many other parts of the world.
For example, former US presidential candidate Andrew Young recently launched a new political initiative aimed at regulating the country’s cryptocurrency.
Last week, American retail giant Walmart announced the installation of 200 Bitcoin ATMs at select US branches.
The United States, as well as other countries including India and Pakistan, currently lack a solid basis for regulating and using decentralized cryptocurrencies.
Meanwhile, the crypto market is growing rapidly all over the world.
This month, the combined market cap of all cryptocurrencies has crossed the 2.5 trillion mark (roughly Rs 1,87,42,625), according to cryptocurrency tracking tool CoinMarketCap.