Uncle Sam is now selling litecoins he got as a result of tax evasion.
The United States General Services Administration, which sells excess federal assets such as office furniture, houses, and tractors, has announced that it will auction off bitcoin (BTC, -2.18 percent) and litecoin (LTC, -0.97 percent) with a combined market value of $377,000.
According to a press release, the latest auction will begin bidding on Friday at 5 p.m. ET and end on Monday at 5 p.m. ET. The block contains eleven lots of cryptocurrency, including 8.93 bitcoins and 150.2 litecoins. According to a document on the GSA’s auction website, the litecoins were taken from a taxpayer for nonpayment of internal revenue taxes.
Earlier this year, the GSA raised $937,092 by selling 16.99 bitcoins in three auctions.
GSA’s Federal Acquisition Service regional commissioner, Thomas Meiron, said in a statement:
“With the addition of a new type of cryptocurrency, this promises to be one of our most exciting auctions of the year,”
To bid, investors must first register. To get the property, the winning bidder must have a digital wallet and make a payment before June 23.