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Over €110,000 worth of confiscated bitcoin and other cryptos are to be auctioned by the Belgian Government. An announcement issued on Friday set this auction’s date as the 24th of March 2020 at noon GMT. The duration of the auction shall be 24 hours, being online to enable this.
About the Bitcoin Auction
For the auction, crypto lots shall range from 0.25 bitcoin to 1 bitcoin. Bitcoin Cash and Bitcoin Gold are the other cryptocurrencies that will also be auctioned. The Wilsons Auctions company shall be the host of the auction. It is the largest independent auction company in the UK and Ireland. The company’s Dublin branch shall be handling the auction on behalf of the Belgian Government.
The purchase of cryptos through exchanges can be quite a difficult task according to Mark Woods. He is an Asset Recovery Executive at Wilson Auctions. His view is that his firm gives directions during the whole process, helping create a level playing field for both beginners and experienced investors.
Increased Crypto Recovery Requests
According to Aidan Larkin, the company’s Asset Recovery Director, the firm’s Asset Recovery work is becoming a hot cake. Requests to help manage assets seized by institutions and government agencies globally keep coming. Larkin notes that cryptocurrencies are the most common assets for recovery, due to the complex requirements of securing them.