Ireland’s Wilsons Auctions to Sell off Bitcoin Worth $125k

Ireland’s Wilsons Auctions to Sell off Bitcoin Worth $125k

Wilsons Auctions, the largest independent auction company in the UK, will sell Bitcoin worth over $125,000 on 24-25 March.

The digital assets, whose volatile value exceeds $125,000, will be split across lots ranging from 0.25 to one Bitcoin. Meanwhile, the other cryptocurrency will contain more currencies such as Bitcoin Cash and Bitcoin Gold.

The Bitcoin will be sold on behalf of the Belgian government, as it previously confiscated the cryptocurrency in criminal cases and is now in talks with Wilsons in this regard.

Mark Woods, asset recovery executive at Wilsons, said:

“Wilsons Auctions is delighted to be holding its next auction of seized bitcoin, even more so because this will be the first of its kind in Ireland.”

“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,” he added.

No minimum price fixed for winner

It is worth mentioning that there will be no minimum price fixed for the winning bid.

Aidan Larkin, Wilsons’ asset recovery director, said:

“Our Asset Recovery work has resulted in requests for assistance from various law enforcement agencies, government agencies and insolvency practitioners around the world asking for our help managing seized assets, with cryptocurrencies being one of the most prevalent due to the complex requirements of securing it.”

The company announced that bidders from more than 90 countries participated in the auction, which aims to sell the assets seized by the Belgian government earlier this year.

Earlier, Cryptolydian reported that Finland’s customs agency has been struggling with what to do with a bitcoin (BTC) horde that fears might end up being sold off in the hands of criminals.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.