Wilsons Auctions, the largest independent auction company in Ireland and the U.K., are holding Ireland’s first public online auction of Bitcoin (BTC) and other cryptocurrencies over a 24 hour period starting on Tuesday 24th March. The digital assets are being sold on behalf of the Belgian Federal Government and will be split into Lots from 0.25 to 1 BTC.
Our next 24hr Online Auction of Cryptocurrency will see over €110k worth of bitcoin auctioned – with no reserve – from 24th March at 12noon GMT!
This is the first public auction of seized crypto assets to take place in Ireland!
— Wilsons Auctions (@wilsonsauctions) March 6, 2020
Larger Lots of Bitcoin Cash (BCH) and Bitcoin Gold (BTG) will also be up for sale in the auction which is being coordinated from Wilsons’ Dublin office.
Wilson Auctions’ Asset Recovery Director, Aidan Larkin, assists regulatory agencies and insolvency practitioners worldwide to recover funds through the auction of cryptocurrencies which he states poses a unique challenge to his clients due “…to the complex requirements of securing it.”
By creating an effective strategy for pro-active governments to receive funds by auctioning seized digital assets, Wilson Auctions are establishing themselves at the forefront of the market.
In early 2019, the company broke new ground as the host of the world’s first Bitcoin auction by a private auction house through their Belfast branch. That sale, which was also for the Belgian authorities, attracted bidders from over 90 countries.
Although smaller in scale than the previous auction, this upcoming sale will follow a similar format which Mark Woods, Asset Recovery Executive at Wilson Auctions, believes “…has proven popular with our customers, who are able to bid online and purchase cryptocurrency from an established and trusted auction house instead of utilising online exchanges, which can be a risky and daunting process.”
Woods suggests that the guidance offered by Wilsons’ throughout the sale process “…means that both newcomers to the world of cryptocurrency and experienced investors can all participate on a level playing field.”
Those interested in participating in the auction will need to register online and make a €500 deposit in order to receive a buyers number.