Anonymous Buyer Pays 5x Value of Bitcoin at Auction

If you have any doubts about the future of Bitcoin and other cryptocurrencies, you just need to look at a recent auction by the French authorities where the highest bidder bought a BTC lot at a rate of $290k per unit in an auction where the authorities sold seized units of the digital coin.

During the auction, an anonymous bidder paid roughly $31,900 for 0.11 BTC which is 5x more than the current price of Bitcoin presently. Not only that, the buyer will have to pay price a 14.28 percent fee before the the coin can be transferred to his wallet. This puts the total fee to be paid by the anonymous buyer at $36,455.

Notably, if this bidder had attempted to purchase his BTC through an exchange, he would have paid approximately $6,150 for his purchase as the price of the asset currently hovers around $57,000. Also, if the bidder had tried his hands on a 2 BTC lot, he would have paid over $600,000, including the auction fees for the units of the crypto asset.

The remaining units of Bitcoin in the lots which ranged from 0.11 unit of the digital gold to 2 BTCs were sold at prices that were in tandem with the coin’s current market value.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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