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Ireland to auction seized cryptocurrencies in the country’s first public crypto auction

Ireland to auction seized cryptocurrencies in the country s first public crypto auction

Ireland to auction seized cryptocurrencies from Belgium in the country’s first public auction of confiscated crypto assets.

Although this might be the first public auction of seized crypto in the Republic of Ireland, it is not the first time for Wilsons Auctions. Wilson’s auction is Ireland’s as well as UK’s largest independent auction house. The auction previously hosed the first public auction of Bitcoin via a private auction company in Belfast during the first quarter of 2019.

Ireland to auction seized cryptocurrencies

The auction would be held at Wilsons Auctions for Bitcoin worth around 125,000 dollars. All of the cryptocurrency would be up for sale to bidders with none kept in reserve. The crypto being auctioned comes from the Belgium Federal Government.

The previous auction in Belfast was had higher stakes as the auction involved 315 BTC and received bidders from over 90 countries. However, this is the first time such an auction is taking place in the Republic of Ireland. The online auction would be managed by the company’s Dublin branch and begin on March 24 at 12 noon GMT. The online auction would run for 24 hours.

Unlike crypto auctions held in the US, this auction is accessible to a larger pool of people. The lots will be split into batches of different sums ranging from 0.25 BTC to one BTC. Moreover, there are other crypto assets included in the auction. These include Bitcoin Cash as well as Bitcoin Gold.

Mark Woods, the Asset Recovery Executive at Wilsons Auctions, stated that the company is “delighted” to hold the auction and even more so because it is the first of its kind in Ireland.

Featured image by pixabay.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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