Northern Ireland Auctioneer Organises World’s First Private Auction of Bitcoin

Northern Ireland Auctioneer Organises World’s First Private Auction of Bitcoin

Digital assets seized by the Belgium authorities are being sold in an online cryptocurrency auction managed by Northern Irish outfit Wilsons Auction House, scheduled for February 28th.

In a 24-hour Timed Online Auction starting at 12 noon (GMT), approximately 315 coins – with no reserve – will be sold, approximately equating to 105 each of Bitcoin, Bitcoin Gold and Bitcoin Cash.

First Private Auction House Sale

Although the US Department of Justice has held its own cryptocurrency auctions in the past, the latest sale is reported to be the world’s first Bitcoin auction for a private auction house.

The haul is part of ill-gotten gains taken by the Belgian police in connection with a drug trafficking case, and the auction company estimates the value of the cryptocurrency haul at around £300,000.

According to Wilsons’ website, the coins “…will be split into a number of Lots, appealing to a wide global audience, with bitcoin ranging from 0.5 to 4 bitcoins each while bitcoin cash and bitcoin gold Lots will contain a larger number of coins.”

Prospective bidders will need to pre-register and make a £500 deposit, which is fully refundable if no successful bid is made.

Formed in 1936 in Northern Ireland, Wilsons has grown to become the largest independent auction company in the UK and last month hosted a sale of Monero cryptocurrency on behalf of the UK law enforcement agencies which attracted bidders from 69 countries.