Sotheby’s to accept bitcoin, ethereum for Banksy auction – Reuters
- Date: 05-May-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Sotheby’s to accept bitcoin, ethereum for Banksy auction – Reuters
Sotheby's said on Tuesday it would accept bitcoin and ethereum as payment for Banksy's iconic artwork "Love is in the Air", a first for a physical art auction and the latest sign of growing mainstream acceptance of cryptocurrencies.
Bidding for the work is estimated at $3 million to $5 million, Sotheby's said, with the buyer having the option to pay with cryptocurrency.
The auction house has tied up with cryptocurrency exchange Coinbase Global Inc (COIN.O) for the sale. Coinbase said in a blog it would help manage price fluctuations during the auction in New York next week.