Economy France to auction bitcoin for the first time

France to auction bitcoin for the first time

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648x415 illustration bitcoin

Illustration of a bitcoin. – CHAMUSSY / SIPA

For the first time in France, bitcoins will be auctioned. Led by the Kapandji Morrange house, this sale will take place online on March 17th. In all, 500 lots of 0.11 to 20 bitcoins will be offered for sale, or 611 bitcoins, the equivalent of 25 to 30 million euros taking into account the current price of the cryptocurrency, reports BFMTV. These lots come from a seizure. The bitcoins belonged to hackers.

It was the asset management and recovery agency, the public body in charge of seizures in criminal cases, which entrusted the cryptocurrency to the auction house. The sale is open to everyone, on registration before March 13 at midnight on the Interencheres.com site.

Security deposits required to bid

There are special conditions to be fulfilled. A security deposit of 1,500 euros will be requested for the first tranche on sale (437 lots of bitcoins from 0.2 to 2 bitcoins) and 10,000 euros for the second tranche (41 lots of 5 to 20 bitcoins) specifies BFMTV. This is a great blow for the auction house, because this sale was initially scheduled a year ago, when the price of bitcoin was ten times lower than today.

This type of auction is being organized more and more in the four corners of the world depending on the seizures. Last year, 4,000 bitcoins seized by the FBI, the equivalent of 165.112 million euros, were auctioned.

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