Belgium is placing over $125,000 worth of Bitcoin (BTC) and altcoins under the hammer. The auction, announced Friday, has no minimum price reserve—allowing crypto holders a new opportunity to get in as low as possible.
Belgium Bitcoin Auction Kicks off on March 24
The sale, held in Dublin by Willson’s auctions on behalf of the Belgium Federal Government, is set to start at noon on GMT on March 24. According to the announcement, up for sale is Bitcoin, Bitcoin Cash (BCH), and Bitcoin Gold (BTG). The Bitcoin, specifically, is to be sold off in fractional lots of 0.25-1. The altcoins, however, will be auctioned for larger amounts.
“The format 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,” said Mark Woods, asset recovery executive at Wilsons Auction.
“We offer guidance throughout the process, which means that both newcomers to the world of cryptocurrency and experienced investors can all participate on a level playing field,” he added.
The sale will mark Ireland’s first public auction of seized cryptocurrency funds. While the exact origin of the seized funds is undisclosed, Aidan Larkin, Wilsons Auctions’ Asset Recovery Director, noted that auctionable cryptocurrencies often stem from global insolvency practitioners and law enforcement agencies.