Northern Ireland sells 47.79 Bitcoin (BTC) via online auction

The Northern Ireland state sells 47.79 Bitcoin (BTC) through an online auction. At the current exchange rate, the amount involved is over 650,000 dollars.

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Bitcoin sales
The country, part of the United Kingdom, has previously seized the cargo of Bitcoin, the Belfast Telegraph reports today.

The auction, organised by Wilsons Auctions in Belfast, has now started and will end on Thursday afternoon. The total is divided over 44 lots from 0.25 BTC to 3 BTC per lot, respectively a market value of $3,450 and $41,400.

Interested buyers need to register in advance in order to be able to participate. In addition, various payment conditions apply.

In addition to Bitcoin, there is an offer of gold, gold jewellery and luxury watches (Audemars Piguet, Rolex and Cartier). Various handbags by Hermes, Chanel and Louis Vuitton are also available.

Online auctions
It is common for governments to sell confiscated Bitcoin or other cryptocurrency through an online auction.

For example, over the last six years the US government has sold no less than 185,000 Bitcoin at various auctions by the United States Marshals Service. Multimillionaire Tim Draper bought more than 30,000 bitcoin during these auctions.

At the beginning of this year, it appeared that America had lost USD 1.7 billion in ‚profits‘ as a result of interim price increases. This lost profit has only increased since the share price has been above $10,000 since the end of July.

Last month, the Romanian government announced that it was going to auction off an unknown amount of confiscated BTC.