The U.S. Government is auctioning just under $300,000 worth of Bitcoin this week. The General Services Administration (GSA) is currently hosting an online auction of 4.92 BTC, worth around $290,000 at the current price of Bitcoin. The auction is split across five lots, with bidding set to close at 5 pm CT on October 28; the smallest lot available is 0.44 BTC, worth just under $26,000, while the largest lot of 1.5 BTC is worth around $88,400 at current prices. At the time of going to press, the highest bids are at a slight discount to the price of Bitcoin, with all the winning bids currently totaling $283,630. (full story)