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GSA Joins Cryptocurrency Craze With First-Ever Bitcoin Auction

Later this month, the General Services Administration (GSA) will auction off more than three-quarters of a share of Bitcoin, marking a clear move for the agency into the cryptocurrency realm. This will also be the first time the agency has held a cryptocurrency auction. The GSA has held plenty of auctions in the past, however, ranging from old computers and monitors to unique items such as a lighthouse and a Black Hawk helicopter.

The auction will occur from March 15-17, allowing those interested to bid on the .7501 share of Bitcoin. The share portion was valued at $38,000 as of March 5. This is the only piece of cryptocurrency to have fallen under the purview of the GSA, according to a spokesperson, however, it is unclear where the Bitcoin share came from. The spokesperson for the agency cited privacy concerns as the reasoning behind not revealing where the auction item originated.

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