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Bidding in Bitcoin allowed at an Italian Auction House

Oct 22, 2017 Posted /  11209 Views

Bidding in Bitcoin allowed at an Italian Auction House

In Italy Bitcoin was given a new order or rank by allowing it as a means of payment in Sant’Agostino a popular auction house in Italy. The administrators of the auctioning house are so confident that it is the first time ever for bitcoin to be allowed it auctioning.

First Bitcoin Auction in Sant’Agostino Auction house

Sant’Agostino House put up over 600 items on its auction Board ranging from simple kitchen items to expensive jewelries. The items will be available for purchase via Bitcoin during the bidding process. A representative from the Sant’Agostino Auction house said,

Paying with the crypto currency will also be allowed at the following auction at the end of November which will feature paintings, jewelry and watches.

This is a move that will spur other businesses to considering opting for Bitcoin as a payment method thus increasing the general outreach of Bitcoin within the community. On the other hand, bitcoin has gotten to the books of several sports booking companies both in Europe and the Americas indicating that Bitcoin is on a journey of no return. Recently also dell started accepting Bitcoin for Buying its products which are mostly computer accessories and consumer electronics.  

The expanding Bitcoin Capabilities

Over the years the possibilities if using Bitcoin for the different economic needs of man has been on the rise. Many cities majorly in Europe now accepts bitcoin for paying taxes for city services like transportation, water, electrify and gas. Bitcoin’s price at the same time has continuous increased to a mind-blowing $5600 for every Bitcoin. This is attributed to the ever increasing demand of Bitcoin across the world. Remote countries in Africa and Asia have not been left out also as stories of how a Uganda immigrant in the us sent tuition fees to her brother in Kampala flamboyantly colored the first pages of many newspapers in East Africa. From being used as a quick option for remitting money back home to being used for donating money to finance a school in west Africa Bitcoin is still the king in Africa.

History of Bitcoin Auctions

When a group of hawkers known as the silk road were brought down about 2700 Bitcoins were recovered. The silk road was an A class hacking group responsible for loss of money from very many popular Bitcoin exchange from the world. In south Korea about 216 Bitcoins were recently sieged by the authority and auction off to the public. This clearly indicates that the claim by Sant’ Agostino is not entirely true as many Bitcoin Auction have already taken place. Never the less credit is still given to Sant’Agostino for being first auctioneer to offer another item for bitcoin in auctioning.

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Tags: bitcoin auction italy bitcoin italy bitcoin bidding

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