Sotheby’s to accept bitcoin, ethereum for Banksy auction – Reuters

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.