“This auction marks the first time cryptocurrency will be made available for public sale through GSA Auctions, and it is the only piece of cryptocurrency to have fallen under the purview of the U.S. General Services Administration,” a GSA spokesperson told The Washington Post in a statement.

The auction comes as bitcoin is trading near its all-time high, flirting with price levels just below $60,000, and as the broader world of cryptocurrency has enjoyed a staggering rally that began last year. Since the beginning of 2021, bitcoin’s price has nearly doubled, as investors flock to the digital token in part as protection against inflation and a weakening dollar.

The GSA declined to share where the bitcoin came from, citing privacy concerns. Items that the GSA puts up for auction can come from a wide range of sources, the agency said, including excess government equipment, gifts from foreign governments and seized property.

“Whether it’s a car, or a piece of jewelry, or now even cryptocurrency, you never know what kind of treasures you’ll find on GSA Auctions,” said Acting Regional Administrator Kevin Kerns with GSA’s Southeast Sunbelt Region, in a statement. The auction will last for two days, ending on Wednesday.

The winner of the auction must complete the full payment
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