Belgium and Ireland to Auction off $126k Worth of Seized Bitcoin

Mar 10, 2020 at 15:05 // News
Coin Idol
Belgium to auction bitcoins

The Belgian administration, in partnership with Wilsons Auctions, will launch public sales for lots of Bitcoin, Bitcoin Cash and Bitcoin Gold. Digital exhibits have been seized in several court cases.

On March 24 in Dublin, a public and online mart will be organized in the best interests of the federal government of Belgium. Regardless of the current cryptocurrency market breakdown, the famous auction house will sell more than 110,000 euros (almost $126,000) worth of the above cryptocurrencies.

Bitcoins will be sold in lots ranging from 0.25 to 1 token while the other coins, BCH and BCG, will be offered in larger quantities. All without reserve price.

The sale follows a contract signed between Belgium and Wilsons Auctions earlier this year. In February, the group had already sold a lot of 315 bitcoins seized in a drug case on the darknet.

Ireland to Conduct First Auction of Bitcoin

Public sales of cryptocurrencies will be held in Ireland and this will be the first event of its kind in this nation. The mart also involves the sale of debtor-owned assets by a creditor who fails to get bonds from government-owned assets or debtors. If Ireland keeps on moving with this momentum, then it is set to become a cryptocurrency and blockchain technology hub.

Bitcoin auctions with state participation are the first examples in this country, but this is not the first time in Bitcoin itself.

In February 2019, a private auction company submitted and auctioned Bitcoin. The public sale ended successfully, attracting attention from many government agencies and law enforcement agencies.

As aforementioned, the public sale is scheduled from 12:00 on March 24 to 12:00 on March 25, and the auction participant will need to deposit $573 USD (500 euros) to obtain the buyer number.

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