Bitcoin costs up to 290K USD / BTC in a French government auction

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2021-03-27 06:38:13

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During an auction of Bitcoin seized by the French government, an anonymous figure bought Bitcoin for up to $ 290,000 for 1 BTC.

As CHK reported on March 11, the French government will hold one 611 BTC auction seized from the Gatehub event in 2019. And at the last auction, an anonymous figure bought Bitcoin for up to $ 290,000 for 1 BTC.

Specifically, this character paid 26,800 euros (about 31,900 USD) for his 0.11 BTC. As revealed by the famous French crypto reporter Grégory Raymond, with current price of BitcoinThis mystery buyer paid 5 times higher than the real value. That means if this person were to buy the same amount of BTC on an exchange, they would only need to pay 5,160 euros (approximately $ 6,144).

Interestingly, under the terms of the auction, the buyer needs to pay an additional 14.28% fee for the transfer. So this means that this person needs to spend an extra 3,827 € (about 4,555 USD) just for 0.11 BTC to be transferred to his wallet.

It is still not clear whether the character will have any technical problems during the auction process as the remaining two batches of Bitcoin are sold at Bitcoin’s current market valuation.

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