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GSA Auctions adds litecoin for the first time in newest crypto auction

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For the fourth time this year, the federal auctioning site General Services Administration Auctions will auction off another lot of bitcoin and, for the first time, litecoin. 

According to a release from GSA Auctions and available lots, 150.2 litecoin, 8.925 bitcoin, and 0.000229 Bitcoin Cash will be auctioned off on the GSA website. The litecoin and bitcoin cash will be auctioned in one lot in addition to 10 lots of bitcoin ranging from 2 BTC to 0.025 BTC. 

The auction begins June 18 at 5 p.m. ET and closes June 22 at 5 p.m. ET., though additional bidding may extend the auction’s close time. 

“Experienced investors recognize a good opportunity when they see it, which is why our auctions have generated so much enthusiasm among the crypto community,” Thomas Meiron, Regional Commissioner for GSA’s Federal Acquisition Service, was quoted as saying in the release. “With the addition of a new type of cryptocurrency, this promises to be one of our most exciting auctions of the year.”

GSA Auctions held its first bitcoin auction in early March, followed by two more in late March and late April. In total, GSA Auctions auctioned off 16.99 BTC and amassed $937,000 in winning bids, according to the release.

While the winning bidder of the first GSA Auctions bitcoin auction paid a $9,000 premium for their bitcoin, its recent auctions mostly sold bitcoin below market value.

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